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Mortgage Market Update
My Mortgage Company
Jeremy Shane Jordan
Thursday, September 17, 2026
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Picking the right type of loan for you |
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One of the most important decisions in getting a mortgage isn't about rate shopping—it's about which loan program actually fits your life. Here's what you need to know.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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 fixate on the interest rate—but the type of loan you choose shapes your entire borrowing experience. A fixed-rate mortgage keeps your payment steady for decades. An adjustable-rate mortgage might start lower but can change over time. Government-backed loans like FHA or VA have different rules and benefits than conventional mortgages. Each one works best for different situations: your timeline, your comfort with change, your down payment, and your long-term plans. Understanding these differences helps you pick the right fit instead of just chasing the lowest number on day one. I'd be happy to walk you through which loan type makes sense for your situation.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Jeremy Shane Jordan
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