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Mortgage Market Update
My Mortgage Company
Andrea WIlson — Andrea WIlson
Wednesday, September 2, 2026
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Your payment might be easier than you think |
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Hi there. This week I want to talk about something that matters more than interest rates alone—what your actual monthly payment means for your life.
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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
How payment changes affect your budget
When rates move, your monthly payment moves with them — sometimes by just a few dollars, sometimes by more. If you're thinking about buying, refinancing, or wondering whether now makes sense for your situation, understanding how payment shifts impact your actual budget is key. It's not just about the interest rate; it's about what you can comfortably carry each month without stretching yourself thin. A small change in rate can feel big when you're looking at 15 or 30 years of payments. That's why it's worth taking a real look at what your numbers are today and what they could be under different scenarios. Let's walk through your specific situation and see what works for your budget.
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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
Andrea WIlson — Andrea WIlson
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