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Mortgage Market Update
Joe Almeida
Joe Almeida
Thursday, September 3, 2026
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Fixed or adjustable—which one's right for you? |
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Hi there. This week I want to break down something that often gets overshadowed by rate talk, but deserves real attention when you're getting 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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Mortgage Basics
Why your loan type matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention—but your loan program is just as important. Whether you choose a fixed rate, an adjustable rate, or something in between, that decision shapes not just your monthly payment, but your entire financial picture over the life of the loan. Different programs work better for different situations: some borrowers benefit from stability and predictability, while others may be comfortable with initial flexibility to fit a shorter timeline. Understanding what each program actually does—and what it costs—helps you make a choice you'll feel confident about years down the road. I'd love to walk through your options and help you figure out which approach makes sense for your goals. Let's talk about which loan program fits your situation 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 Joe Almeida team any time and we'll walk you through your options. |
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