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Mortgage Market Update
My Mortgage Company
Ronnee Walton (For Deletion)
Wednesday, September 2, 2026
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When your mortgage payment feels too high |
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Life changes, and so do financial priorities. Here's what to know if you're looking for relief on your mortgage.
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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
What to do if your mortgage payment just got tighter
If you're feeling the squeeze on your monthly budget, you're not alone. Rising costs of living hit hard, and sometimes that mortgage payment starts to feel like more than you bargained for. The good news: you have options. Refinancing to a longer loan term can lower your monthly payment. Some borrowers explore cash-out refinancing to consolidate higher-interest debt. Others tap into home equity with a line of credit when they need breathing room. The right move depends on your situation, your timeline, and what you're trying to accomplish. I'd love to walk through what might work for you—no pressure, just conversation. Let's talk about your options and find out what could ease your monthly load.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Ronnee Walton (For Deletion)
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