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Mortgage Market Update
David Smith
David Smith
Thursday, September 3, 2026
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Picking the right mortgage for your goals |
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Hi there—I wanted to share some thoughts this week on one of the most important decisions in the borrowing process: which loan program is the best fit for you.
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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
What loan type is right for your situation?
There's no one-size-fits-all mortgage. Depending on where you are in your homeownership journey—whether you're buying for the first time, moving up, or refinancing—different loan programs can work better for your goals and finances. Some borrowers benefit from fixed-rate stability; others find adjustable options worth considering. Government-backed programs exist for specific situations. The right choice depends on your timeline, down payment, credit profile, and how long you plan to stay in the home. I'd be happy to walk you through which programs might make sense for you and why. Let's talk about which loan program fits your needs best.
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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 David Smith team any time and we'll walk you through your options. |
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