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Mortgage Market Update
Next Level Lending MN
Next Level Lending MN
Wednesday, September 2, 2026
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Life changes—let's talk about your mortgage |
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Hello! This week I want to touch on something that doesn't always make the headlines: how life's shifts affect your home loan decisions.
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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
When your budget shifts, your mortgage might too
Life changes fast—a job transition, a growing family, unexpected expenses. Your finances today may look different from when you closed on your home. If your situation has shifted, it's worth knowing what options exist. Sometimes a loan adjustment can ease your monthly burden. Other times, understanding your current position simply gives you peace of mind and a clearer picture of where you stand. Whether you're wondering if a change makes sense or just want to talk through where you are now, I'm here to help you think it through without pressure or obligation. Let's have a quick conversation about what's changed and what might work for you.
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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 Next Level Lending MN team any time and we'll walk you through your options. |
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