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Mortgage Market Update
Jacquie Saldana
Jacquie Saldana
Wednesday, September 2, 2026
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What's really driving your monthly payment |
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Hi there. Every week I work with people who discover that their mortgage payment includes more than they initially thought.
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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
Why your payment might feel heavier than expected
When you're shopping for a home or thinking about refinancing, it's easy to focus on the interest rate alone. But your actual monthly payment depends on several factors working together—the rate, your loan term, your down payment, and property taxes and insurance in your area. Two borrowers with the same rate can have very different payments. Understanding what drives that number helps you plan a realistic budget and avoid surprises after closing. If your payment feels higher than you expected, or you're wondering whether a different loan structure might work better for your situation, I'm here to walk through the real numbers with you. Let's talk through what your payment would actually look like.
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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 Jacquie Saldana team any time and we'll walk you through your options. |
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