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Mortgage Market Update
Alan Thain
Alan Thain
Wednesday, September 2, 2026
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Confused about loan types? Let's break it down |
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Hi there. This week I want to help you understand the different mortgage programs available to you and how to think about choosing between them.
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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
Which loan type fits your situation
Not all mortgages work the same way. Fixed-rate loans keep your payment steady for the life of the loan—predictable and reliable. Adjustable-rate mortgages start lower but can change over time. FHA loans help buyers with smaller down payments. VA loans serve those who've earned them. Each program has strengths depending on your timeline, down payment, and comfort with risk. The right choice depends on your personal plan, not what worked for someone else. If you're unsure which path makes sense for your goals, I'd like to walk through your options with you. Reach out and let's talk about what loan program might work best for you.
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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 Alan Thain team any time and we'll walk you through your options. |
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