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Mortgage Market Update
My Mortgage Company
Kurt Kessler - 2
Wednesday, September 2, 2026
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What lower rates actually mean for you |
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Hi there. This week I'm breaking down a question I hear a lot: what really happens when mortgage rates move.
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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
A lot of homeowners wonder whether falling rates automatically help them. The truth is simpler than you might think: if you have a fixed-rate mortgage, your payment stays the same no matter what happens to rates. That's the trade-off of locking in a rate when you close. But there are strategic moves you can make—like refinancing—if rates move enough to make sense for your situation. And if you're in the market now, lower rates mean better affordability on the home you want. The key is understanding your own timeline and goals so you can decide what action, if any, makes sense for you. If you're curious whether your situation has changed, I'm always happy to walk through your options.
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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
Kurt Kessler - 2
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