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Mortgage Market Update
Team Dayton
Team Dayton
Wednesday, September 2, 2026
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When rates fall, what should you do? |
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Hi there—rates don't stay static, and neither should your strategy. Here's what you need to know when the market shifts.
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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 Money
What happens to your mortgage when rates drop
When interest rates fall, homeowners often think about refinancing—but there's something else worth understanding first. Your current mortgage payment stays exactly the same unless you choose to refinance. What changes is the opportunity: if rates move lower, you might be able to refinance into a new loan with a lower rate, which could reduce your monthly payment or shorten your loan term. The key is knowing when that move makes financial sense for your situation. Every home and every loan is different, so it's worth a conversation to see if refinancing aligns with your goals. Let's talk about whether a rate drop opens a smart move for you.
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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 Team Dayton team any time and we'll walk you through your options. |
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(253) 532-5626
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