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Mortgage Market Update
Jay Richardson
Jay Richardson
Wednesday, September 2, 2026
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Fixed or adjustable—what's the right call? |
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One of the biggest choices in getting a mortgage is the type of rate you choose. Here's what you need to think about before deciding.
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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
Fixed vs. adjustable: which fits your plan?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate. A fixed-rate mortgage keeps your payment stable no matter what happens to the market—that predictability is worth a lot if you plan to stay put. An adjustable-rate mortgage typically starts lower, which can work well if you're selling or refinancing before the rate adjusts. Neither is right or wrong; it depends on your timeline, risk tolerance, and how long you see yourself in the home. I'm happy to walk through the pros and cons of each so you can make the choice that matches your actual situation. Let's talk through which option makes sense for 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 Jay Richardson team any time and we'll walk you through your options. |
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