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Mortgage Market Update
Timothy Barbieri
Timothy Barbieri
Wednesday, September 2, 2026
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Your payment vs. the rate—what really matters |
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A Note From Timothy Barbieri
A quick update from our team
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I want to share something I notice borrowers often overlook when they're evaluating their mortgage options. It's a simple shift in thinking that can make a real difference.
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Payment Reality
Why your monthly payment matters more than the rate
When you're shopping for a mortgage or thinking about refinancing, it's easy to fixate on interest rates. But here's what I see work best: focus on the actual monthly payment you can comfortably afford. A lower rate sounds great, but if it doesn't move your payment into a sustainable range, it won't solve your real problem. The payment is what shows up in your bank account every month—that's what affects your daily life and your ability to handle other expenses. We can run different scenarios (different loan amounts, terms, or programs) to show you how each one lands on your budget. That's where the real conversation starts. Let's talk about what payment works for your situation.
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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 Timothy Barbieri team any time and we'll walk you through your options. |
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6 Wills Way, Building 2 Piscatway NJ 08854
732-476-9230 | https://www.petracephas.com/applywithtim
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