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Thursday, September 3, 2026 |
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A Note From Tim Powers
A quick market update for my past clients and friends
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Mortgage Market Update
Which loan program actually fits your situation?
Every homebuyer and homeowner faces different circumstances. That's why there's no one-size-fits-all 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
The right loan type matters more than you think
When you're shopping for a mortgage or thinking about refinancing, it's easy to focus only on the interest rate. But your loan program — whether it's a fixed-rate mortgage, an adjustable-rate option, an FHA loan, or something else — shapes your entire borrowing experience. Different programs come with different rules about down payments, credit requirements, how your payment might change over time, and what flexibility you have down the road. The best program for your neighbor might not be the best for you. That's why I always recommend looking at the full picture of what you qualify for and what fits your real situation, not just chasing the lowest advertised number.
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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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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 Tim Powers team any time and we'll walk you through your options.
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16427 N Scottsdale Rd Ste 410, Scottsdale, AZ 85254
+1 253-209-4247
Tim Powers · Unsubscribe
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