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Mortgage Market Update
My Mortgage Company
Alicia Hyatt
Wednesday, September 2, 2026
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What's really hiding in your monthly payment |
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Hi there. This week I want to talk about something that often surprises homeowners—the parts of a mortgage payment that aren't just about interest and principal.
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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
Why your payment might change even if rates don't
A lot of homeowners think their mortgage payment is locked in forever—and in a sense, it is, if you have a fixed-rate loan. But there are a few things that can shift what you actually pay each month. Property taxes can go up. Insurance premiums change. And if you're paying mortgage insurance, that amount may adjust or eventually fall away as you build equity. Understanding what's in your payment helps you plan ahead and spot opportunities to lower it. If any of these costs have spiked lately, or if you're curious whether you're eligible to drop mortgage insurance, I'd love to walk through your situation with you. Let's review your current payment and see if there's room to improve it.
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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
Alicia Hyatt
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