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Mortgage Market Update
David Smith
David Smith
Wednesday, September 2, 2026
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Picking the right mortgage for your goals |
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Hi there—I wanted to share some thoughts this week on one of the most important decisions in the borrowing process: which loan program is the best fit for you.
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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
What loan type is right for your situation?
There's no one-size-fits-all mortgage. Depending on where you are in your homeownership journey—whether you're buying for the first time, moving up, or refinancing—different loan programs can work better for your goals and finances. Some borrowers benefit from fixed-rate stability; others find adjustable options worth considering. Government-backed programs exist for specific situations. The right choice depends on your timeline, down payment, credit profile, and how long you plan to stay in the home. I'd be happy to walk you through which programs might make sense for you and why. Let's talk about which loan program fits your needs best.
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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 David Smith team any time and we'll walk you through your options. |
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