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Mortgage Market Update
Joe Almeida
Joe Almeida
Wednesday, September 2, 2026
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Fixed or adjustable—which one's right for you? |
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Hi there. This week I want to break down something that often gets overshadowed by rate talk, but deserves real attention when you're getting a mortgage.
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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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Mortgage Basics
Why your loan type matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention—but your loan program is just as important. Whether you choose a fixed rate, an adjustable rate, or something in between, that decision shapes not just your monthly payment, but your entire financial picture over the life of the loan. Different programs work better for different situations: some borrowers benefit from stability and predictability, while others may be comfortable with initial flexibility to fit a shorter timeline. Understanding what each program actually does—and what it costs—helps you make a choice you'll feel confident about years down the road. I'd love to walk through your options and help you figure out which approach makes sense for your goals. Let's talk about which loan program fits your situation best.
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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 Joe Almeida team any time and we'll walk you through your options. |
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