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Mortgage Market Update
Jay Richardson
Jay Richardson
Thursday, September 3, 2026
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Fixed or adjustable—what's the right call? |
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One of the biggest choices in getting a mortgage is the type of rate you choose. Here's what you need to think about before deciding.
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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 Program Basics
Fixed vs. adjustable: which fits your plan?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate. A fixed-rate mortgage keeps your payment stable no matter what happens to the market—that predictability is worth a lot if you plan to stay put. An adjustable-rate mortgage typically starts lower, which can work well if you're selling or refinancing before the rate adjusts. Neither is right or wrong; it depends on your timeline, risk tolerance, and how long you see yourself in the home. I'm happy to walk through the pros and cons of each so you can make the choice that matches your actual situation. Let's talk through which option makes sense 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 Jay Richardson team any time and we'll walk you through your options. |
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