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Mortgage Market Update
Dunn Mortgage Team
Dunn Mortgage Team
Friday, September 11, 2026
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Fixed or adjustable: what's the difference? |
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One mortgage question comes up again and again: should I choose a fixed rate or an adjustable one? Let me break down how each works and what to think about.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.38%
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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 Basics
Fixed vs. adjustable: which fits your plan?
One of the biggest choices in a mortgage is whether to lock in a rate for the full life of the loan or start with a lower rate that adjusts over time. A fixed rate stays the same no matter what happens to the market — predictability you can count on. An adjustable rate typically begins lower but can change after an initial period, which means your payment could go up. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what your finances can handle if rates move. There's no universal 'best' answer, only the best answer for you. I'd love to walk through both options and help you see which one aligns with your goals.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 Dunn Mortgage Team team any time and we'll walk you through your options. |
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3111 Camino Del Rio North San Diego, CA 92108
619.815.3366 | http://www.PatrickDunnTeam.com
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