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Mortgage Market Update
Megan Bissell
Edge Home Finance
Thursday, September 3, 2026
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Your loan program choice matters too |
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Hi there. This week I want to cover something that often gets overlooked when people start shopping for a mortgage.
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National Mortgage Rates · August 27, 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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Loan Programs
Not all mortgages work the same way
When you're shopping for a mortgage, the interest rate gets most of the attention. But the loan program itself—whether it's a fixed-rate, adjustable-rate, FHA, conventional, or something else—shapes how your payment works and what happens over time. Different programs have different rules about down payments, credit requirements, and long-term costs. The right choice depends on your timeline, how stable your income is, and how long you plan to stay in your home. I've seen borrowers save real money just by picking the program that actually fits their situation instead of chasing the lowest rate alone. Let's talk through what makes sense for you. I'd be happy to walk you through which programs might work best for your goals.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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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 Megan Bissell team any time and we'll walk you through your options. |
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