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Mortgage Market Update
My Mortgage Company
Scott Reed
Thursday, September 17, 2026
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Rate moves and your monthly payment |
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Hi there. This week I want to clear up something I hear about a lot: the connection between interest rates and the amount you pay each month.
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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 change
A lot of people ask me: if rates go up or down, does my payment change too? The answer depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan—that's the security of it. But if you're considering an adjustable-rate loan or thinking about refinancing, rate movement absolutely affects what you'll owe each month. Understanding this difference helps you plan your budget with confidence and make the choice that fits your life. I'm always happy to walk through how rate changes would play out in your specific situation. Let's talk through how rates and payments work for your loan.
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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
Scott Reed
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