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Mortgage Market Update
Ryan Leahy
Ryan Leahy
Thursday, September 3, 2026
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Picking the right loan for your situation |
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When you're shopping for a mortgage, it's natural to ask friends what they did. But here's the thing: their deal may not be your deal.
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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
Why your neighbor's loan might not work for you
Not all mortgages are created equal, and what worked perfectly for someone else may not be your best fit. Different loan programs offer different advantages — some prioritize lower upfront costs, others reward a larger down payment, and some are designed specifically for first-time buyers or those with unique financial situations. Your credit profile, income, savings, timeline, and long-term plans all shape which program makes the most sense. I've seen borrowers leave money on the table by choosing a loan based on a friend's recommendation rather than their own circumstances. The right program for you depends on your full picture, not theirs. Let's talk about which loan program aligns best with 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 Ryan Leahy team any time and we'll walk you through your options. |
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