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Mortgage Market Update
Pete Ruberti
Pete Ruberti
Wednesday, September 2, 2026
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How much does a rate change really cost? |
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Hi there. This week I want to explain something that affects every homeowner and borrower—how interest rate movements hit your wallet.
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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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Affordability & Payments
What changes when rates move
When interest rates shift, your monthly payment moves with them—even if nothing else about your loan changes. A higher rate means more of each payment goes toward interest rather than building equity in your home. The opposite is true when rates drop. Understanding this relationship helps you make smarter decisions about whether to refinance, when to lock in a rate, or how to plan your budget. I'm always happy to walk through what a rate change would mean for your specific situation. Let's talk through how current rates affect your options—reach out anytime.
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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 Pete Ruberti team any time and we'll walk you through your options. |
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