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Mortgage Market Update
Guillermo Ley
Guillermo Ley
Wednesday, September 2, 2026
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What's your interest rate actually costing you? |
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Hi there. This week I want to talk about one number that quietly shapes your entire mortgage picture.
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National Mortgage Rates · August 27, 2026
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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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Smart Money
The one number that changes everything
When you're a homeowner, your interest rate matters more than you might think—not just at closing, but for years to come. That rate determines how much of each payment goes toward principal versus interest, which affects how quickly you build equity and how much total interest you'll pay over the life of your loan. If your rate has shifted since you bought, or if you're simply curious where you stand, it's worth understanding what you're paying. The good news: knowing your rate and how it compares to today's market is the first step toward making smarter decisions about your mortgage. Whether that means refinancing, paying down principal faster, or simply understanding your options, information is power. Let's talk about your rate and what it means for your financial picture.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 Guillermo Ley team any time and we'll walk you through your options. |
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