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Mortgage Market Update
My Mortgage Company
Anna Lim Real Estate
Thursday, September 17, 2026
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What a rate move actually means for you |
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Hi there. This week I want to clear up something I hear questions about a lot: how interest rates connect to the monthly payment you actually make.
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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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Monthly Payment Reality
What happens to your payment when rates move
If you're shopping for a mortgage or thinking about refinancing, you've probably noticed rates changing. Here's what that actually means for your wallet: when rates go up, your monthly payment goes up (assuming the same loan amount). When rates drop, your payment drops. It's direct and immediate. The relationship isn't always obvious to borrowers who haven't financed before, so I wanted to make it simple. The rate on your loan and your payment are tied together—one moves, the other follows. This is why paying attention to rate trends matters, and why timing a refinance can be worth your while. If you're curious whether a rate move in your favor could lower what you're paying each month, let's talk through the numbers together. Reach out anytime—I'm happy to show you how a rate change would affect your specific situation.
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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
Anna Lim Real Estate
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