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Mortgage Market Update
Emily Torvik
Emily J Torvik
Wednesday, September 2, 2026
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What a rate move really costs you |
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Hi there. This week I want to walk you through something I see borrowers overlook all the time—the real impact of rate changes on your budget.
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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 Check
What changes when your rate moves
Most borrowers think about rates in terms of a number on paper. But what really matters is how a rate change affects your monthly payment and whether a home stays affordable for you. Even a modest shift in rates can meaningfully change what you can comfortably borrow or whether refinancing makes sense. The flip side: if rates move favorably, your existing payment might not change, but your equity picture does. Understanding this connection helps you make smarter decisions about buying, refinancing, or holding steady. I'm here to walk through what any rate movement means for your specific situation. Let's talk about how today's rates affect 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 Emily Torvik team any time and we'll walk you through your options. |
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