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Mortgage Market Update
My Mortgage Company
Annie Waneck — Annie Waneck
Wednesday, September 2, 2026
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The loan type matters as much as the rate |
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There's more to a mortgage than just the interest rate. This week, I want to talk about why choosing the right loan program can be the difference between a comfortable payment and one that feels like a stretch.
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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
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention. But the type of loan you choose matters just as much. Fixed-rate mortgages, adjustable-rate mortgages, FHA loans, conventional loans, VA loans if you've served — each one has different rules, flexibility, and long-term costs. The right choice depends on your timeline, how long you plan to stay in the home, and what fits your budget today and tomorrow. I often find that borrowers don't realize how much the loan structure itself can change the overall picture. Let's talk through what makes sense for your situation. I'd be happy to walk you through the options that fit your goals.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Annie Waneck — Annie Waneck
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