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Mortgage Market Update
Nick Peterson
Wednesday, September 2, 2026
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What's your actual monthly payment going to be? |
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Here's something I see borrowers overlook: they chase the lowest rate and forget to ask the question that touches their wallet every month.
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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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Payment Planning
Why your monthly payment matters more than rate alone
I talk to borrowers all the time who focus only on interest rates—and miss what really matters: their monthly payment. Here's the thing: two loans with similar rates can have very different payments depending on the loan term, down payment, and what's included. A longer loan means lower payments but more interest paid over time. A shorter loan costs less overall but stretches your budget thinner each month. Neither is wrong—it depends on what works for your life right now. The real wisdom is understanding the full picture before you commit. I'm here to walk you through those numbers so you can choose what actually fits. Let's talk through what a realistic monthly payment looks like 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 Nick Peterson team any time and we'll walk you through your options. |
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