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Mortgage Market Update
My Mortgage Company
Jessica Portillo — Jessica Portillo
Wednesday, September 2, 2026
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When rates move, your budget moves too |
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Hi there. This week I want to walk you through something that affects every borrower, whether you're buying or already a homeowner.
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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 Check
What changes when rates move
Interest rates don't just affect the rate you pay—they change what you can actually afford. When rates rise, your monthly payment climbs on the same loan amount, which means your purchasing power shifts. The reverse is true too: when rates fall, the same home becomes easier to finance. This matters whether you're shopping now, thinking about refinancing, or just wondering if your current mortgage still fits your budget. Understanding this connection helps you make smarter decisions about timing and loan choices. If you'd like to talk through how rate movement affects your specific situation, I'm here to help.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Jessica Portillo — Jessica Portillo
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