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Mortgage Market Update
Keila Nelson
Keila Nelson
Thursday, September 3, 2026
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Picking the right mortgage type for you |
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Hi there. Not all mortgages are built alike, and choosing the wrong one can cost you more than money—it can cost you peace of mind.
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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
Not all mortgages work the same way
When you're ready to buy or refinance, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA. They're not just different names—they work very differently, and the right choice depends on your situation, timeline, and comfort level with risk. A fixed-rate mortgage keeps the same payment forever. An adjustable-rate might start lower but can change over time. Government-backed programs like FHA have different down payment and credit requirements than conventional loans. Understanding which program fits your goals helps you make a confident decision instead of just taking whatever's offered first. I'd love to walk you through the options that make sense for where you are right now. Let's find the loan program that works best for your plan.
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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 Keila Nelson team any time and we'll walk you through your options. |
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