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Mortgage Market Update
My Mortgage Company
Stephanie Pena
Thursday, September 17, 2026
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Which loan program is right for your situation? |
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Every borrower's needs are different, and your mortgage should reflect that. This week I'm breaking down why loan type matters and how to think about the choice.
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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
Not all mortgages work the same way, and choosing between a fixed rate, adjustable rate, or other loan program is one of the biggest decisions you'll make as a borrower. Your loan type determines how your payment behaves over time, how much interest you'll pay, and how protected you are if rates shift. A fixed rate keeps your payment stable for the life of the loan. An adjustable rate might start lower but can change. Other programs offer different advantages depending on your timeline and comfort with risk. The right choice depends entirely on your situation—how long you plan to stay in the home, your budget flexibility, and what gives you peace of mind. I'd love to walk you through your options and help you understand what each one really means for your finances. Let's talk about which loan program makes the most sense for you.
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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
Stephanie Pena
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