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Mortgage Market Update
My Mortgage Company
Michael Fahey
Thursday, September 17, 2026
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Which loan type fits your situation best |
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Hi there. This week I want to break down something that gets overlooked in a lot of mortgage conversations—but it shouldn't.
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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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Loan Programs
What your loan type means for your money
Not all mortgages work the same way, and the loan program you choose affects more than just your interest rate—it shapes your monthly payment, how much flexibility you have, and your long-term costs. Fixed-rate loans lock in predictability. Adjustable-rate options may start lower but can change over time. Government-backed programs open doors for buyers who might not qualify elsewhere. Each one serves different goals and different life situations. Understanding which program fits *your* circumstances—not just chasing the lowest starting number—is how you actually come out ahead. I'd like to walk you through your options and show you what each one really means for your budget. Let's talk through which loan program makes sense for where you are right now.
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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
Michael Fahey
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