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Mortgage Market Update
Christopher Austin
Christopher Robert Austin
Wednesday, September 2, 2026
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Rate moves and your monthly payment |
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Hi there—I wanted to touch on something that comes up a lot in conversations with folks like you.
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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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Affordability Check
When your rate changes, your payment does too
A lot of people ask me how much a rate move actually affects their monthly mortgage payment. The short answer: it matters more than you might think. Even a small shift in rates can change what you're comfortable paying each month, which in turn affects how much home you can afford. If you're thinking about buying, selling, or refinancing soon, understanding this relationship helps you make a smarter decision. It's worth taking a few minutes to see how current conditions line up with your own situation. I'm here to walk through the numbers with you whenever you're ready. Let's talk about what makes sense for your budget right now.
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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 Christopher Austin team any time and we'll walk you through your options. |
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