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Mortgage Market Update
Megan Henderson
Barrett Financial
Thursday, September 3, 2026
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Which loan type is right for you? |
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Hi there. This week I want to walk through something that gets overlooked too often: the shape of your loan matters just as much as the numbers attached to it.
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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 Program Fit
Picking the right loan type for your situation
Not all mortgages are created equal, and the program you choose matters more than you might think. Whether you're a first-time buyer, a repeat homeowner, or someone looking to refinance, there are different loan structures—fixed rate, adjustable rate, government-backed programs, portfolio loans—each with different trade-offs. The right choice depends on your timeline, how long you plan to stay in the home, your risk tolerance, and what your finances can handle. I often see borrowers pick a program based on the lowest advertised rate, only to discover later that another option would have served them better. Let's talk through what makes sense for your specific goals and circumstances. Give me a call or send me a message—I'd like to understand what matters most to you.
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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 Megan Henderson team any time and we'll walk you through your options. |
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