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Mortgage Market Update
My Mortgage Company
Home Smart - Surpise
Thursday, September 17, 2026
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When rates move, here's what changes |
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Every week I get questions about how interest rates work and what they mean for monthly payments. This week I'm breaking down the most straightforward part of that conversation.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Mortgage Basics
What happens to your payment when rates change
A lot of people ask me how rate changes actually affect what they pay each month. Here's the straightforward answer: when rates move, your monthly payment moves with them. A higher rate means a higher payment on the same loan amount; a lower rate means your payment drops. The relationship is direct and immediate. What's less obvious is that your rate environment also shapes which loan programs make sense for your situation right now—some borrowers benefit from fixed rates, others from adjustable options, and others from refinancing into something different entirely. The key is understanding your own timeline and comfort level, then matching that to what the market is offering. If you'd like to talk through how rate movement might affect your specific situation, I'm here to walk you through it.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Home Smart - Surpise
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