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Mortgage Market Update
Jesse Wien
BARRETT FINANCIAL GROUP LLC
Wednesday, September 2, 2026
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Your loan term affects more than just your payment |
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Hi there. This week I want to touch on something that often gets overlooked in the mortgage conversation—but it shouldn't.
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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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Mortgage Basics
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets all the attention—but your loan term (15 years, 30 years, or something in between) shapes your financial life just as much. A shorter term means higher monthly payments but you build equity faster and pay less interest overall. A longer term lowers your payment and gives you breathing room in your monthly budget, though you'll carry the loan longer. Neither choice is universally "right." It depends on your income stability, other financial goals, and how long you plan to stay in the home. The best term is the one that lets you pay comfortably without stretching too thin elsewhere. If you'd like to talk through which term makes sense for your situation, I'm here to walk you through it.
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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 Jesse Wien team any time and we'll walk you through your options. |
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9202573426 | https://www.barrettfinancial.com/jesse-wien
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