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Mortgage Market Update
sherry kerr
Sherry Kerr
Wednesday, September 2, 2026
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What does your loan application actually look like? |
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Hi there—I wanted to reach out this week about something I hear a lot: uncertainty about whether you're ready to buy. Let me help clear that up.
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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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First-Time Buyer Readiness
Ready to buy, or just thinking about it?
There's a big difference between wanting to buy a home and being positioned to buy one. I work with a lot of people who are excited about homeownership but aren't quite sure what their actual starting point is. The truth is, a few things matter most: your credit health, how much you've saved for a down payment, your employment history, and what your monthly debt looks like right now. None of these need to be perfect, but knowing where you stand means we can build a real plan instead of just hoping it works out. I'd rather spend 20 minutes understanding your situation today than have you surprised later. If you're curious whether you're closer than you think, I'd love to walk through it with you. Let's talk about where you are and what comes next.
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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 sherry kerr team any time and we'll walk you through your options. |
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