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Mortgage Market Update
Dave Jenks
Dave Jenks
Wednesday, September 2, 2026
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Why your monthly payment matters more than you think |
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Hi there. This week I want to walk through something fundamental that affects every borrower: how rates and payments connect, and why understanding that relationship helps you make better decisions.
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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 payment when rates change
I get asked this a lot: if rates move up or down, does my payment automatically adjust? The answer depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan—that's the security of fixed-rate borrowing. But if you're considering an adjustable-rate loan or wondering about a refinance, it's worth understanding how rate changes could affect what you owe each month. The relationship between rates and payments is one of the most important things to grasp as a borrower, because it helps you plan ahead and make moves that work for your situation. Let's talk through what rate movement means for your specific loan—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 Dave Jenks team any time and we'll walk you through your options. |
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