Mortgage Market Update

My Mortgage Company

Ryan Harding — PLAY HARDING LLC

Wednesday, September 2, 2026

Why rates matter beyond your monthly payment

Hi there — this week I want to break down something that catches a lot of borrowers by surprise. Rate movements affect more than just the numbers on your statement.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Affordability Shift

What changes when rates move

Rate changes ripple through your homeownership in ways that go beyond your monthly payment. When rates shift, it affects not just what you pay each month, but also how much home you can afford, how quickly you build equity, and whether refinancing makes sense down the road. Understanding these connections helps you make smarter decisions about timing, loan selection, and long-term strategy. Whether you're thinking about buying, refinancing, or just staying informed about your options, it's worth a conversation about how today's rate environment shapes your situation.

Let's talk about what the current market means for your goals.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Ryan Harding — PLAY HARDING LLC

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