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Mortgage Market Update
Hardeep Rai
Hardeep Rai
Wednesday, September 2, 2026
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The mortgage you choose matters |
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Hi there. This week I want to cover something that doesn't always get the attention it deserves: which type of mortgage you actually get matters as much as the rate itself.
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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
Not all mortgages work the same way
One of the biggest decisions you'll make isn't just about your rate—it's about which loan program fits your situation. A fixed-rate mortgage locks in the same payment for 15 or 30 years, which appeals to people who want predictability. An adjustable-rate mortgage starts lower but can change after an initial period, which might make sense if you're planning to move or refinance down the road. Then there are specialized programs designed for first-time buyers, VA borrowers, or those with less-than-perfect credit. The right choice depends on your timeline, risk tolerance, and financial picture. I'd love to walk you through the options and help you understand which program aligns with your goals. Let's talk about which loan program makes sense 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 Hardeep Rai team any time and we'll walk you through your options. |
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