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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Thursday, September 3, 2026
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Picking the right loan structure for your family |
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Hi there—one of the most important decisions you'll make isn't about rates or timing. It's about understanding your loan itself.
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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 Basics
Why your loan type matters more than you think
I talk to homeowners all the time who picked their mortgage without really understanding the difference between fixed and adjustable rates, or why loan length affects more than just the monthly payment. Your loan structure shapes how much interest you'll pay over time, how your payment behaves, and how flexible you can be if life changes. A 15-year fixed works beautifully for some families; others sleep better with a 30-year and the breathing room that brings. There's no universal "best" choice—it depends on your income stability, how long you plan to stay in the home, and what payment feels sustainable to you. If you're not sure your current loan is still working for your situation, or you're shopping for the first time and feel lost in the options, I'd love to walk you through it. Reach out and let's talk about which loan program makes sense for your goals.
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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 Patrick Culleton team any time and we'll walk you through your options. |
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