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Mortgage Market Update
Jasmine Wright
Mortgages the Wright Way
Thursday, August 20, 2026
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Rate changes and what they mean for you |
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Hi there. This week I want to walk you through something that comes up in almost every conversation I have.
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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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Smart Money Habits
Why your payment changes when rates move
When interest rates rise or fall, your monthly mortgage payment doesn't automatically adjust—unless you have an adjustable-rate loan. But here's what does matter: if you're thinking about buying or refinancing soon, rate changes affect how much home you can afford right now. A higher rate means your dollars stretch less far. The flip side is also true. Understanding this relationship helps you make decisions with confidence, whether you're locking in today or watching the market. It's one of those fundamentals that pays off to understand clearly. If you'd like to talk through how current conditions affect your situation, I'm here to help.
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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 Jasmine Wright team any time and we'll walk you through your options. |
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