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Mortgage Market Update
Kenna Siders
Kenna Siders
Wednesday, September 2, 2026
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Your down payment strategy matters |
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Hi there. This week I want to focus on one of the most powerful levers you have when buying or refinancing a home—and it's something you control.
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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 down payment size matters more than you think
The amount you put down when you buy—or when you refinance—affects more than just your monthly payment. A larger down payment can influence the loan programs available to you, how lenders view your application, and even the long-term cost of your mortgage. It's one of the few things you control directly in the borrowing process. Whether you're saving for a first home or considering a cash-out refinance, understanding how your down payment shapes your options helps you make a decision that fits your real financial picture, not just this month's payment. If you'd like to talk through how different down payment scenarios might work for your situation, I'm here to walk you through it.
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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 Kenna Siders team any time and we'll walk you through your options. |
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