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Mortgage Market Update
CJ Cunningham
CJ Cunningham
Wednesday, September 2, 2026
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Your budget might be bigger than you think |
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Hi there. This week I want to talk about one of the most important conversations we can have: what you can actually afford.
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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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Home Affordability
When your budget stretches further than you think
A lot of people assume their home-buying budget is locked in stone, but the truth is more flexible. Your actual purchasing power depends on several moving pieces—what you put down, the interest rate you lock, how long you finance, and even your credit profile. Small shifts in any of these can open up different possibilities for what home you can afford. That's why I always encourage borrowers to look beyond just the headline price tag. Understanding your true budget means you're not caught off guard, and you can shop with confidence knowing what's actually within reach for your situation. Let's talk about what you can really afford—reach out and we'll walk through your numbers.
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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 CJ Cunningham team any time and we'll walk you through your options. |
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