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Mortgage Market Update
Giovanni Acosta
Giovanni Acosta
Wednesday, September 2, 2026
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Rate lock: timing matters |
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Hi there. This week I want to tackle a question I hear often: when should you actually lock in your rate?
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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
Should you lock in your rate today?
Rate locks can feel urgent, and sometimes they should be. When you're in active underwriting and closing is weeks away, locking protects you from rate movement between now and signing. But if you're still shopping or deciding whether to buy or refinance, locking early means you're paying to hold a rate you might not even use. The right move depends on your timeline, the market direction, and your comfort with uncertainty. I help clients think through the trade-offs so the decision feels confident, not panicked. Ready to talk through where you stand?
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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 Giovanni Acosta team any time and we'll walk you through your options. |
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120 Kisco Ave Suite T, Mount Kisco, NY 10549
www.homepluscapital.com
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