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Mortgage Market Update
Eitan Shafshak
Wednesday, September 2, 2026
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Your monthly payment: what actually matters |
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When you're thinking about a mortgage, interest rates get all the attention. But I've found that borrowers are often more concerned—and rightly so—with what they'll actually pay each month.
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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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Affordability & Payment
Why your monthly payment matters more than the rate
I talk to borrowers all the time who focus heavily on interest rates—and they should, rates do matter. But here's what I've learned: the payment you make each month is what actually hits your budget. Two loans with similar rates can have very different payments depending on the loan term, down payment, and loan type you choose. A slightly higher rate on a shorter loan, for example, might mean a lower overall cost than a lower rate stretched over a longer period. The real question isn't just "what's the rate?" It's "what payment am I comfortable with, and does it align with my long-term goals?" I'd love to walk through your numbers and show you how different scenarios play out for your situation. Let's talk about what payment works best for you.
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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 Eitan Shafshak team any time and we'll walk you through your options. |
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