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Mortgage Market Update
Scott Adams
Scott Adams
Wednesday, September 2, 2026
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Rate changes and what they mean for you |
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Hi there. This week I want to explain something that comes up in nearly every conversation I have with clients.
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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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Rate Environment
What happens to your payment when rates move
I get asked this often: if rates go up or down, does my current loan change? The short answer is no—if you have a fixed-rate mortgage, your payment stays the same for the life of the loan. But rate movement matters for anyone thinking about their next step, whether that's refinancing, buying again, or pulling equity from their home. When rates shift, it changes what's possible for you financially. A small move in rates can mean a meaningful difference in monthly payment, or whether a new purchase fits your budget. Understanding how rates affect your options—today and down the road—helps you make decisions with confidence. I'm here to walk through what any rate environment means for your specific situation. Let's talk about how today's rate picture affects your goals.
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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 Scott Adams team any time and we'll walk you through your options. |
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