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Mortgage Market Update
Wade Willers
Wade Willers
Thursday, September 3, 2026
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Your loan term shapes everything |
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Hi there. This week I want to walk you through one of the most important—and most overlooked—decisions in getting a mortgage.
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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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Smart Money
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets all the attention. But the length of your loan—15 years, 30 years, or something in between—shapes your entire financial picture. A shorter term builds equity faster and costs less interest overall, but increases your monthly payment. A longer term spreads payments out, making them more manageable month to month. There's no universal "right" answer; it depends on your income stability, long-term plans, and what fits your budget without stress. The best choice is the one you can actually afford to pay on time, every time. Let's talk about which term makes the most sense for your situation.
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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 Wade Willers team any time and we'll walk you through your options. |
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