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Mortgage Market Update
My Mortgage Company
Camille Olson
Thursday, September 17, 2026
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Your payment stays the same—here's what changes |
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Hello,
This week I want to clear up a common source of confusion about how mortgage rates and payments actually work together.
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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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Payment Planning
What happens to your payment when rates move
A lot of people assume that if rates go up or down, their monthly payment automatically changes. That's only true if you're shopping for a new loan. If you already have a mortgage locked in, your payment stays the same—that's the whole point of a fixed rate. What does change is how much of that payment goes toward principal versus interest. When rates are higher, more of your early payments cover interest. When rates drop, you build equity faster on the same payment. Understanding this matters because it shapes how you think about refinancing or your long-term payoff timeline. If you've wondered whether a rate shift affects what you're paying each month, or you're curious about how your money is actually being split, let's talk it through. Reach out if you'd like to walk through how your specific loan breaks down.
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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
Camille Olson
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