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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Wednesday, September 2, 2026
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Picking the right loan structure for your family |
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Hi there—one of the most important decisions you'll make isn't about rates or timing. It's about understanding your loan 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 Program Basics
Why your loan type matters more than you think
I talk to homeowners all the time who picked their mortgage without really understanding the difference between fixed and adjustable rates, or why loan length affects more than just the monthly payment. Your loan structure shapes how much interest you'll pay over time, how your payment behaves, and how flexible you can be if life changes. A 15-year fixed works beautifully for some families; others sleep better with a 30-year and the breathing room that brings. There's no universal "best" choice—it depends on your income stability, how long you plan to stay in the home, and what payment feels sustainable to you. If you're not sure your current loan is still working for your situation, or you're shopping for the first time and feel lost in the options, I'd love to walk you through it. Reach out and let's talk about which loan program makes sense for your goals.
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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 Patrick Culleton team any time and we'll walk you through your options. |
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