Mortgage Market Update

Daniel Bellomy

Wednesday, September 2, 2026

The loan type question nobody asks

Hi there. I wanted to share something borrowers often overlook when shopping for a mortgage.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Mortgage Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, the interest rate gets all the attention. But the type of loan you choose—fixed, adjustable, conventional, FHA, VA—shapes your entire borrowing experience. Each has different rules about down payments, credit requirements, and how your payments behave over time. Some protect you from rate swings; others offer lower starting costs. Understanding which loan fits your situation, timeline, and comfort level is just as important as chasing the best number. If you've been focused only on rates, let's talk about the full picture.

Reach out and we can walk through which loan type aligns best with your goals.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Daniel Bellomy team any time and we'll walk you through your options.

Your Mortgage Advisor

Daniel Bellomy

dbellomy@power-lending.com

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