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Mortgage Market Update
Michael Hutchinson
Michael Hutchinson
Wednesday, September 2, 2026
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Finding the right mortgage for your situation |
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There's more than one way to buy a home. This week I'm breaking down why the mortgage you choose matters just as much as the home itself.
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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 you?
Not all mortgages are created equal. Depending on your situation—whether you're a first-time buyer, a veteran, buying rural property, or putting down a smaller down payment—different loan programs can open doors that might otherwise stay closed. Each program has its own strengths: some offer flexibility on credit scores, others reduce upfront costs, and some are built specifically for buyers in certain circumstances. The right fit depends on your goals, timeline, and what you're comfortable with. I'd love to walk you through which programs might work best for your story. Let's talk about which loan program fits your 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 Michael Hutchinson team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Michael Hutchinson
Michael Hutchinson
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