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Mortgage Market Update
Dekoven Wesley
Dekoven Wesley
Wednesday, September 2, 2026
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Picking the right loan type for you |
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Hi there. This week I want to help you understand something that often gets overshadowed in rate conversations but really matters: which kind of mortgage fits your life.
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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, it's easy to focus on interest rates and monthly payments. But the loan program you choose—fixed-rate versus adjustable, conventional versus government-backed—shapes your entire borrowing experience. Each has real trade-offs in stability, flexibility, and long-term cost. Understanding what fits your situation means you won't be surprised later, and you'll sleep better knowing you picked the right structure for your goals. Whether you're buying your first home or your fifth, the foundation you build now affects your finances for years. I'd love to walk you through the options that make sense for where you are today. Let's talk about which loan program aligns with your situation.
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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 Dekoven Wesley team any time and we'll walk you through your options. |
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