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Mortgage Market Update
My Mortgage Company
Lance Monson
Wednesday, September 2, 2026
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Should you move on a rate drop? |
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Hi there. Markets move, and so do mortgage rates. Here's how to think about it.
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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 to do when rates drop
When mortgage rates move lower, homeowners often wonder if they should act. The truth is, it depends on your situation. If you're in a loan with a higher rate, refinancing might make sense—but only if the long-term savings outweigh the costs involved. Others might simply continue with their current loan and enjoy the knowledge that their home is building equity. The key is understanding your own timeline and goals, not chasing every rate movement. I'm happy to run through the numbers with you and show what a rate shift could mean for your specific loan. Give me a call or send a message whenever you'd like to talk 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
Lance Monson
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