Mortgage Market Update

Ryan Miller

Wednesday, September 2, 2026

Different mortgages, different outcomes

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.

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

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.

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 Ryan Miller team any time and we'll walk you through your options.

Your Mortgage Advisor

Ryan Miller

ryanmiller@barrettfinancial.com

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