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Mortgage Market Update
Matt Combs
Mortgage Pro
Wednesday, September 2, 2026
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Your rate vs. their rate: what's the difference? |
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It's natural to compare notes with friends and family about mortgages. But one conversation I want to clear up is why rates vary so much from person to person.
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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
Why your neighbor's rate isn't your rate
I hear this a lot: "My friend just locked in a really low rate—why can't I get that?" The truth is, mortgage rates are personalized. Your rate depends on your credit score, down payment size, loan type, property details, and lender pricing. Two people applying on the same day can walk away with different numbers. That's not a mistake—it's how lending works. The best move is to focus on your own situation, not someone else's deal. If you're curious where you'd stand today, I'm happy to run some real numbers based on your actual profile. Reach out and we can talk through what's realistic for your specific circumstances.
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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 Matt Combs team any time and we'll walk you through your options. |
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