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Mortgage Market Update
Matthew Chauncey
Matthew Chauncey
Thursday, September 3, 2026
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Picking the right mortgage program for you |
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Hi there. This week I want to focus on something that doesn't get enough attention: choosing the right type of mortgage for your situation.
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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, it's easy to focus only on the interest rate. But the type of loan you choose — fixed-rate, adjustable-rate, FHA, conventional, or VA — shapes your entire borrowing experience. Each program has different rules about down payments, credit requirements, closing costs, and how your payment behaves over time. A fixed-rate mortgage gives you payment stability; an ARM might offer a lower starting rate but can adjust later. First-time buyers often have access to programs with more flexible down payment options. Understanding which loan type aligns with your situation, timeline, and comfort level is just as important as getting a competitive rate. I'm here to walk you through the pros and cons of each option so you can make a choice that fits your life. Let's talk about which loan program makes the most sense for you — reach out anytime.
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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 Matthew Chauncey team any time and we'll walk you through your options. |
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