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Mortgage Market Update
Edgar Franco
Edgar Franco
Wednesday, September 2, 2026
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What's actually in your mortgage payment? |
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When we talk about your monthly mortgage payment, it's easy to think of it as one number. But there's more to the story—and knowing the details can help you manage your money better.
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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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Affordability Check
What your monthly payment really includes
A lot of homeowners are surprised to learn what goes into that mortgage payment each month. It's not just principal and interest—there's also property taxes, homeowners insurance, and often mortgage insurance, all bundled together. Understanding this breakdown matters because it helps you see where your money is going and spot opportunities to adjust. For instance, as your home value increases and you build equity, you may eventually be able to drop mortgage insurance. Or a tax reassessment might shift your payment. Knowing the components means you're not caught off guard, and you can plan smarter. I'd love to walk you through your current payment structure and see if there are any moves worth exploring. Let's review what you're paying each month and talk through your options.
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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 Edgar Franco team any time and we'll walk you through your options. |
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