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Mortgage Market Update
Zachary White
Zachary White
Wednesday, September 2, 2026
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Your payment and interest rates explained |
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Hi there—this week I want to clear up a question I hear pretty often about how rates and payments connect. It's simpler than you might think.
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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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Payment Planning
What happens to your payment when rates change
A lot of people ask me how rate movements affect their monthly mortgage payment—and it's a great question to understand. The simple truth: when rates go up, your payment goes up. When rates go down, your payment goes down. This matters most if you're thinking about refinancing or shopping for a new loan soon. Even small rate changes can shift your payment in meaningful ways over time. If you're curious about what your actual payment might look like under different rate scenarios, I'm happy to walk through some examples with you. There's no obligation—just useful information to help you plan ahead. Let's talk through what different rates could mean 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 Zachary White team any time and we'll walk you through your options. |
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