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Wednesday, September 16, 2026 |
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Mortgage Market Update
Fixed or adjustable—what's right for you?
There's a lot that goes into choosing the right mortgage. This week I want to break down one of the most important decisions you'll make.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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
Fixed vs. adjustable: which fits your plan?
When you're looking at loan options, one of the biggest decisions is whether to lock in a fixed rate or start with an adjustable one. A fixed rate stays the same for the life of your loan, which means predictable payments and peace of mind—especially valuable if you plan to stay in your home long-term. An adjustable rate typically starts lower but can change after an initial period, which might make sense if you're planning to sell or refinance before the rate adjusts. Neither is "right" or "wrong"—it depends on your timeline, risk comfort, and how long you see yourself in the home. I'd love to walk through what makes sense for your specific situation.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 Joseph Kelley team any time and we'll walk you through your options.
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3900 Lennane Dr Ste 200, Sacramento, CA 95834
916-612-4294
NMLS# 1705850 · Company NMLS# 02052578
"Joe the Mortgage Giant" · Unsubscribe
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