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Mortgage Market Update
Daniel Bellomy
Daniel Bellomy
Thursday, September 3, 2026
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The loan type question nobody asks |
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Hi there. I wanted to share something borrowers often overlook when shopping for 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 all the attention. But the type of loan you choose—fixed, adjustable, conventional, FHA, VA—shapes your entire borrowing experience. Each has different rules about down payments, credit requirements, and how your payments behave over time. Some protect you from rate swings; others offer lower starting costs. Understanding which loan fits your situation, timeline, and comfort level is just as important as chasing the best number. If you've been focused only on rates, let's talk about the full picture. Reach out and we can walk through which loan type aligns best with 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 Daniel Bellomy team any time and we'll walk you through your options. |
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