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Mortgage Market Update
Marc Hayes
Marc Hayes
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 often—how mortgage rates connect to what you actually 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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Mortgage Basics
What happens to your payment when rates change
A lot of people ask me how rate movements affect their monthly mortgage payment—and the answer depends on what kind of loan you have. If you're locked into a fixed rate, your payment stays the same for the life of the loan, no matter what happens in the market. With an adjustable-rate mortgage, your payment can change when the rate adjusts, usually after an initial fixed period. Understanding this difference matters, especially if you're deciding between loan types or thinking about a refinance. The rate environment today might make one option more attractive than another for your situation. I'd be happy to walk through how this would work for you specifically. Let me know if you'd like to talk through how rate scenarios might affect 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 Marc Hayes team any time and we'll walk you through your options. |
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