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Mortgage Market Update
My Mortgage Company
My Mortgage Company
Wednesday, September 2, 2026
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The rate lock question to ask yourself |
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Hi there. One question comes up a lot during the mortgage process, and it's worth getting right.
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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 Timing
When to lock in your rate
Rate locks are one of the most important decisions in the mortgage process—but the right timing depends on your situation. Some borrowers lock early for peace of mind; others wait to see if rates move in their favor. There's no one-size-fits-all answer, which is why it matters to talk through the tradeoffs with someone who knows your timeline and goals. If you're actively preparing to buy or refinance, understanding how rate locks work and what your options are can help you make a decision you feel confident about. I'd be happy to walk you through it. Reach out if you're thinking about locking in, or if you'd just like to understand your options better.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
My Mortgage Company
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