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Mortgage Market Update
Markiesia Scott
Markiesia Scott
Wednesday, September 2, 2026
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What your mortgage payment really does |
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Hi there—this week I want to talk about something most people overlook when they think about their home loan. It's simple but powerful, and it might change how you view 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
The one number that matters most right now
If you're a homeowner, you probably know your mortgage rate and your monthly payment. But there's a third number that deserves your attention: how much of each payment is actually going toward building equity versus paying interest. Early in your loan, most of your payment goes to interest—that's normal. But as time passes, the ratio shifts in your favor. Understanding where you stand helps you make smarter decisions about whether to stay the course, refinance, or make extra principal payments. It's one of those quiet financial moves that can shape your long-term wealth without requiring a dramatic change. I'd be happy to walk you through your numbers and show you exactly how your payments break down.
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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 Markiesia Scott team any time and we'll walk you through your options. |
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