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Mortgage Market Update
Beth Moore
Beth Moore
Wednesday, September 2, 2026
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When should you lock your rate? |
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Hi there. This week I want to tackle a question that comes up in almost every conversation I have.
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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
One question I hear often: should I lock my rate now or wait? The truth is, timing the market perfectly is nearly impossible—even for professionals. What matters more is understanding what a rate lock does for you. When you lock, you're protecting yourself from rate increases while your loan processes. If rates fall after you lock, you're still obligated to that higher rate, so there's a real tradeoff. The right move depends on your timeline, how comfortable you are with uncertainty, and your overall financial picture. I can walk you through the ins and outs so you feel confident in whatever you decide. Let's talk through your timeline and comfort level—reach out anytime.
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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 Beth Moore team any time and we'll walk you through your options. |
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