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Mortgage Market Update
My Mortgage Company
Dakota Howard
Wednesday, September 2, 2026
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When rates move, what should you do? |
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Hi there, I wanted to share something I'm discussing with clients this week about rate changes and what they really mean for your wallet.
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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 Moves
What to do when rates shift
When mortgage rates move, it changes the math on your home loan — but not always in the way you might think. A rate increase makes new borrowing more expensive, which can affect both what you qualify for and your monthly payment. But if you already have a loan locked in, your payment stays the same. The real question is whether a shift in rates makes sense for your situation: refinancing to a lower rate, staying put, or adjusting your timeline if you're shopping. Every borrower's answer is different, and it depends on your goals, timeline, and current loan terms. Reach out if you'd like to talk through what a rate move means for your specific situation.
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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
Dakota Howard
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