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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Wednesday, August 19, 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
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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1.
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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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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