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Mortgage Market Update
Ronald Carias
Ronald Carias
Thursday, August 20, 2026
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Why your mortgage payment might (or might not) change |
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Hi there — I wanted to share something homeowners often wonder about but don't always ask. Here's what you should know about how rate movements actually touch your wallet.
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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
A lot of homeowners ask me how rate changes actually affect their monthly payment — and the answer depends on what kind of loan you have. If you're locked into a fixed rate, your payment stays the same no matter what happens in the market. That's the security of fixed-rate mortgages. But if you're considering an adjustable-rate loan or thinking about refinancing, it's worth understanding how rate movement flows into your budget. Even small rate changes can add up over time. I always recommend thinking through your comfort level with payment changes before you commit to any loan structure. Let's talk through what makes sense for your situation. Reach out whenever you'd like to walk through how different rates and loan types would look for you.
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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 Ronald Carias team any time and we'll walk you through your options. |
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