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Mortgage Market Update
James S Boggs
James S Boggs
Thursday, September 17, 2026
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What happens when rates move in your favor |
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Hi there. I wanted to touch base this week about how rate changes can open doors you might not have considered before.
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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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Rate Movement
When rates drop, your options multiply
A lot of people think about interest rates as a one-time decision—you lock in a number and that's that. But the truth is, rates are always moving, and when they shift in your favor, new opportunities open up. A meaningful drop might make refinancing worth your while. It could also change what you can afford if you're shopping for a home. Even if neither applies to you right now, understanding how rate movement affects your financial picture helps you stay ahead. The key is not to panic when rates go up or get complacent when they go down—just stay aware and reach out when something changes.
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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 James S Boggs team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
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