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Mortgage Market Update
Jason Erickson
Jason Erickson
Wednesday, September 2, 2026
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The right loan type can change everything |
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Hi there—I hope this finds you well. This week I want to talk about something that doesn't always get enough attention: how the type of loan you choose affects far more than just your rate.
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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
Loan options matter more than you think
When you're ready to buy or refinance, the type of loan you choose shapes your whole financial picture—not just your monthly payment, but how fast you build equity, what flexibility you have, and how much you pay over time. Different programs work better for different situations: some prioritize lower upfront costs, others reward long-term stability, and some are built specifically for first-time buyers or those with unique circumstances. The right fit depends on your timeline, your comfort level, and what comes next in your life. I'd love to walk you through what's available and help you understand which one makes the most sense for where you are right now. Reach out and let's talk about which loan program fits 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 Jason Erickson team any time and we'll walk you through your options. |
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