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Mortgage Market Update
Jarred Kuiper
Jarred Kuiper
Thursday, August 20, 2026
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How rates affect what you pay each month |
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Hi there. This week I want to clear up a common question I hear from homeowners: what actually happens to your mortgage payment when interest rates move?
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National Mortgage Rates · August 13, 2026
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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 mortgage when rates shift
If you've been thinking about your mortgage lately, you might wonder: does a rate change affect my payment right now, or later? Here's the straightforward answer. If you have a fixed-rate loan, your monthly payment stays locked in—rate movements won't touch it. But if you're shopping for a new loan or considering a refinance, rate changes directly affect what you'd pay each month on a new loan. And if you have an adjustable-rate mortgage, rate changes will eventually show up in your payment. Understanding which bucket you're in helps you plan ahead and make smart decisions about timing. Let's talk through your specific situation so you know exactly what to expect. Reach out if you'd like to walk through how rate movement might affect your options.
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Tip of the Week
If your credit score is below 740, even small improvements before applying for a mortgage can save you thousands over the life of the loan.
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Tips for Homeowners
Weatherproofing Your Home Before Winter
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1.
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Clean your chimney if you have a fireplace. The National Fire Protection Association recommends annual inspection and cleaning to prevent chimney fires.
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2.
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Check attic insulation and ventilation before winter. Inadequate insulation leads to heat loss, higher energy bills, and ice dams on the roof that can cause significant damage.
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3.
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Inspect weatherstripping on all exterior doors. A simple dollar-bill test works: close the door on a bill — if you can pull it out easily, your weatherstripping needs replacing.
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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 Jarred Kuiper team any time and we'll walk you through your options. |
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