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Wednesday, September 2, 2026 |
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A Note From Tim Powers
A quick market update for my past clients and friends
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Mortgage Market Update
Which loan program actually fits your situation?
Every homebuyer and homeowner faces different circumstances. That's why there's no one-size-fits-all mortgage.
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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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Loan Programs
The right loan type matters more than you think
When you're shopping for a mortgage or thinking about refinancing, it's easy to focus only on the interest rate. But your loan program — whether it's a fixed-rate mortgage, an adjustable-rate option, an FHA loan, or something else — shapes your entire borrowing experience. Different programs come with different rules about down payments, credit requirements, how your payment might change over time, and what flexibility you have down the road. The best program for your neighbor might not be the best for you. That's why I always recommend looking at the full picture of what you qualify for and what fits your real situation, not just chasing the lowest advertised number.
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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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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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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 Tim Powers team any time and we'll walk you through your options.
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16427 N Scottsdale Rd Ste 410, Scottsdale, AZ 85254
+1 253-209-4247
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