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Mortgage Market Update
Eric Neal
Eric Neal
Wednesday, September 2, 2026
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The loan type you pick really does matter |
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Hi there — I've been thinking about how many borrowers end up with a loan program that doesn't quite fit their needs, simply because they didn't know the options were out there.
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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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Loan Programs
Your loan options matter more than you think
When you're ready to buy or refinance, the type of loan you choose shapes your entire financial picture — not just your rate, but your timeline, flexibility, and long-term costs. A conventional loan works differently than an FHA or VA loan, and each has genuine advantages depending on where you are in life. Some programs let you put less down; others offer rate benefits or faster closing. The right fit isn't always the most popular one — it's the one that matches your situation. I'd love to walk you through what's available to you and why one program might serve you better than another. Let's talk about which loan program makes the most sense for your goals.
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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 Eric Neal team any time and we'll walk you through your options. |
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