Mortgage Market Update

Josh Jiron

Wednesday, September 2, 2026

The loan program question most people skip

Hi there. This week I want to talk about something that gets overlooked in the rate conversation—but it's just as crucial to your finances.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

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.

Loan Programs

What loan type actually fits your budget

When you're shopping for a mortgage or thinking about refinancing, the interest rate gets all the attention—but the loan program itself is just as important to your wallet. A 15-year loan, a 30-year loan, an ARM, a jumbo product—they all work differently and affect your monthly payment, total interest, and long-term flexibility in distinct ways. The right choice depends on how long you plan to stay in your home, how much payment stability matters to you, and what you can comfortably afford each month. I'd like to walk through your situation and show you which programs actually make sense for your goals, not just which one has the lowest rate this week.

Let's talk through what loan program works best for where you are right now.

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 Josh Jiron team any time and we'll walk you through your options.

Your Mortgage Advisor

Josh Jiron

Jjiron@canopymortgage.com

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