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Wednesday, September 2, 2026 |
Mortgage Market Update
The number you should care about most
Hi there — I wanted to share something I've noticed after years of doing this work.
National Mortgage Rates · August 27, 2026 |
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30-Year Fixed
6.66%
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FHA 30-Year
6.55%
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VA 30-Year
6.38%
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Source: Freddie Mac PMMS & Optimal Blue via FRED |
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Smart Money
Why your mortgage payment matters more than the rate
I talk about interest rates a lot — and they do matter. But here's what I see most often: borrowers focus so heavily on rate that they lose sight of what actually hits their bank account each month. Your payment is what you live with every single month for the next 15 or 30 years. A lower rate is great, but not if it comes with a longer loan term or higher fees that don't make financial sense for your situation. Before you chase the lowest rate you've heard about, ask yourself: Does this loan fit my budget? Am I building equity at a pace I'm comfortable with? Will I stay in this home long enough to recoup closing costs? Those questions matter as much as any rate quote.
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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 Andrew Karam - Edge Home Finance, LLC team any time and we'll walk you through your options.
Schedule a consultation →
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