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Mortgage Market Update
My Mortgage Company
Lindsey Carioti
Wednesday, September 2, 2026
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How rates affect what you actually pay |
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Hi there,
I wanted to break down something that comes up in almost every conversation I have with borrowers.
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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
What happens to your payment when rates move
A lot of borrowers ask me how interest rates actually affect their monthly mortgage payment — and it's worth understanding. When rates rise, your payment goes up because you're borrowing money at a higher cost. When rates fall, the opposite happens: your payment could be lower. The relationship is direct and immediate on new loans. But here's the thing: if you already have a mortgage, your payment is locked in and won't change unless you refinance. That's when knowing the current rate environment becomes really useful — you can compare what you're paying now to what's available, and decide if a refinance makes sense for your situation. The math is simpler than it seems, and I'm happy to walk you through it. Reach out whenever you'd like to talk through your options — no pressure, just clarity.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Lindsey Carioti
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