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Mortgage Market Update
Ryan Miller
Ryan Miller
Thursday, September 3, 2026
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Different mortgages, different outcomes |
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Hi there, I want to make sure you know that not every mortgage is built the same way—and that matters. Here's what you should think about when you're exploring your options.
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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, conventional, FHA, VA, and USDA. Each one has different rules, flexibility, and trade-offs. A fixed-rate mortgage keeps the same payment for the life of the loan—great for predictability. An adjustable-rate mortgage may start lower but can change over time. Government-backed programs like FHA and VA have their own requirements and advantages. The right choice depends on your timeline, comfort with payment changes, and what you qualify for. I've found that borrowers who understand their options make decisions they're confident in years later. Let's talk through which program makes sense for your situation. Reach out and we can walk through what program might be the best fit for 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 Ryan Miller team any time and we'll walk you through your options. |
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