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Mortgage Market Update
One Real Mortgage Master
Wednesday, September 2, 2026
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When rates change, what really happens to your payment? |
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Hi there. Markets move, rates fluctuate, and it's natural to wonder whether any of it affects your wallet. Let me walk you through the basics.
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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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Rate Environment
What happens to your payment when rates move
A lot of people ask me whether they should lock in a rate or wait to see if things improve. The honest answer is that timing the market is nearly impossible — but understanding how rate changes affect your actual payment is valuable either way. When rates shift, even by a small amount, your monthly payment can move noticeably. That's why I encourage borrowers to think about what payment they can comfortably afford, then work backward from there. If you already have a mortgage, knowing your current rate and balance helps us figure out whether a move makes financial sense. If you're shopping, we can show you how different rate scenarios play out in real dollars. Let's talk about what a rate change would mean for your 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 One Real Mortgage Master team any time and we'll walk you through your options. |
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