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Mortgage Market Update
My Mortgage Company
Shawn Curran
Thursday, September 17, 2026
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What lower rates mean for your mortgage |
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Hi there. I wanted to touch base this week about one of the most common questions I get: what actually happens when rates move.
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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 drop
A lot of people assume that if mortgage rates fall, their monthly payment automatically goes down. Here's the thing: it only works that way if you refinance. Your current loan stays locked in at whatever rate you signed. The good news is that when rates do move lower, refinancing becomes worth a serious look—you could potentially lower what you owe each month without changing anything else about your home or your life. Of course, there are costs to refinance, so it only makes sense if the math works. That's where I come in. If you've noticed rates shifting, I'd be happy to walk you through whether it's the right move for your situation. Reach out anytime—no obligation, just honest guidance.
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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
Shawn Curran
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