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Mortgage Market Update
Michael King
Michael King
Wednesday, September 2, 2026
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Which loan program fits your needs? |
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Every borrower's situation is different, and so should your mortgage. This week I want to make sure you know what options are actually out there.
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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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Loan Programs
What loan program fits your situation?
Not all mortgages are created equal. Depending on where you are in your homeownership journey—whether you're buying for the first time, refinancing an existing loan, or tapping into your home's equity—different programs may work better for your goals and budget. Some borrowers benefit from fixed-rate stability. Others find adjustable-rate options helpful. And if you've built equity, you might have choices you didn't know existed. The right program can mean real savings over time and a payment structure that actually matches your life. I'd love to walk through what's available to you and how each one might play out.
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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 Michael King team any time and we'll walk you through your options. |
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619-944-1137 | https://www.barrettfinancial.com/michael-king
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