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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Thursday, August 20, 2026
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Your monthly payment—what really matters |
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Hi there. This week I'm breaking down something borrowers ask me about constantly.
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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
Why your monthly payment matters more than the rate
When rates move, your first instinct is to check whether they went up or down. But here's what I want you to focus on: your actual monthly payment. A lower rate saves you money, yes—but only if it keeps your payment manageable and lets you build equity without stretching your budget. I've seen borrowers locked into loans they could barely afford because they chased the lowest rate without thinking about the full picture. Before you decide to refinance or shop for a new mortgage, talk through the real numbers with me. What matters is finding the right balance between a favorable rate and a payment that works for your life. Let's sit down and run the actual numbers—I'll show you how different scenarios affect what you pay each month.
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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 Joshua Switzer team any time and we'll walk you through your options. |
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