Mortgage Market Update

Deuane Woodard

Wednesday, September 2, 2026

Picking the right mortgage program for you

Hi there. This week I want to talk about something that often gets overlooked when people shop for a mortgage — the loan program itself.

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

The loan type you choose matters more than you think

When you're ready to buy or refinance, the mortgage program itself — fixed rate, adjustable rate, FHA, conventional, VA — shapes your entire borrowing experience. Each has different rules around down payments, credit requirements, interest rate options, and long-term costs. A program that works perfectly for one borrower might be wrong for another, depending on how long you plan to stay in the home and what your financial situation looks like. The right fit can mean lower monthly payments, fewer hoops to jump through, or better protection if rates move. I'd be happy to walk you through which programs might make sense for your situation.

Let's talk about which loan program 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 Deuane Woodard team any time and we'll walk you through your options.

Your Mortgage Advisor

Deuane Woodard

deuane@barrettfinancial.com

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