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Mortgage Market Update
Cait Haugen
Cait Haugen
Thursday, September 3, 2026
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Your loan type matters more than you think |
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Hi there,
I've noticed a lot of folks focus on interest rates when they're shopping for a mortgage—and rates do matter. But there's another choice that shapes your whole loan experience, and it deserves equal attention.
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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 your loan type really controls
Not all mortgages work the same way, and the type you choose affects more than just your interest rate. Your loan program determines whether your rate stays fixed or adjusts, how much you can borrow relative to your home's value, what kind of property you can buy, and even how flexible you are if life changes. A conventional loan, FHA loan, VA loan, or USDA loan each come with their own rules and benefits. Understanding what fits your situation—your down payment, your credit profile, your timeline, your plans for the home—helps you avoid surprises down the road. If you're not sure which program makes sense for you, or if you're wondering whether a different loan type could have worked better, I'm happy to walk through the options. Reach out if you'd like to talk through which loan program might be the best fit 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 Cait Haugen team any time and we'll walk you through your options. |
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