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Mortgage Market Update
Justin Stein
B.E. Home Finance
Wednesday, September 2, 2026
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Your home budget might be bigger than you realize |
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Hi there. Sometimes the biggest barrier to a good financial decision is not knowing where you actually stand. That's what I'm here to help with.
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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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Home Affordability
Your budget may stretch further than you think
A lot of people assume their home-buying budget is locked in stone, but the truth is it moves with the market. When rates shift, or when you've built up equity, or when your income changes, your actual purchasing power can go up—sometimes significantly. The same goes for existing homeowners: what felt like a stretch five years ago might feel manageable today, or vice versa. It's worth taking a fresh look at where you actually stand, especially if circumstances have changed since you last thought about it. I'd be happy to walk through the numbers with you and show you what's realistic for your situation. Reach out anytime you'd like an honest conversation about what you can afford.
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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 Justin Stein team any time and we'll walk you through your options. |
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