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Mortgage Market Update
John Kunkel
John Kunkel
Wednesday, September 2, 2026
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One thing you might not know about your payment |
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Hi there. This week I want to share something I see homeowners overlook all the time—and it's worth knowing about before it surprises 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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Smart Money
Why your home payment might change even if rates stay the same
Most people think their mortgage payment is locked in for life, but there's one thing that can move the needle without any action on your part: property taxes and homeowners insurance. As your home value appreciates or local assessments shift, these costs can climb, which means your actual monthly payment (including taxes and insurance) can rise even when your interest rate doesn't budge. It's not dramatic month-to-month, but over a few years it adds up. The silver lining? Understanding this now means you can budget for it and aren't caught off guard. If you're curious about what your payment really includes or want to talk through ways to stay ahead of these changes, I'm here to walk you through it. Let's review your escrow and make sure you're prepared for what's ahead.
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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 John Kunkel team any time and we'll walk you through your options. |
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