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Mortgage Market Update
James S Boggs
James S Boggs
Wednesday, September 2, 2026
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Why homeowners think differently about money |
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Every week I see people surprised by how much ownership changes their financial picture. Let's talk about one of the biggest 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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Loan Programs
What changes when you move from renting to owning
A lot of people think the jump to homeownership is just about a bigger payment. But it's really about what comes with it. When you own, you build equity with every payment instead of writing a check that disappears. You get tax deductions, stability in your housing costs, and the ability to borrow against what you've built. You also take on maintenance and property taxes—but here's the thing: most homeowners I work with say the trade-off is worth it. The loan program you choose affects how quickly you build that equity and what flexibility you have down the road. Want to understand which path makes sense for your situation?
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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 James S Boggs team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
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