Mortgage Market Update

Marc Sears

Wednesday, September 2, 2026

What type of mortgage fits you best?

Hi there. This week I want to walk you through something that often gets overlooked: choosing the right loan program for your needs.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Loan Programs

What loan type works best for your situation?

Not all mortgages are the same, and picking the right one matters more than most people realize. Whether you're a first-time buyer, refinancing, or exploring a cash-out option, the loan program you choose affects your payment, flexibility, and long-term costs. Conventional loans, FHA, VA, and USDA programs each have different strengths depending on your credit, down payment, and goals. Some borrowers benefit from adjustable rates early on; others need the stability of a fixed term. The right fit depends entirely on your circumstances—not what worked for your neighbor.

Let's talk through which program aligns with where you are right now.

Tip of the Week

Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.

Tips for Homeowners

Understanding Mortgage Points

1.	One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.

2.	Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.

3.	Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Marc Sears team any time and we'll walk you through your options.

Your Mortgage Advisor

Marc Sears

marc.sears@edgehomefinance.com

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