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Mortgage Market Update
Chris George
Chris George
Wednesday, September 2, 2026
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Property taxes and what to watch before you buy |
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We're seeing some important reminders this week about hidden costs that catch buyers off guard, and one state legislature just missed a chance to help condo buyers. Here's what matters for your wallet.
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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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Rate Environment
Why your neighbor's rate isn't your rate
I hear it often: "My coworker just locked in X percent—why can't I get that?" The truth is that mortgage rates are personalized. Your credit profile, down payment, loan type, property details, and lender all factor into the offer you receive. Two borrowers applying on the same day can see different numbers based on their financial picture. Understanding this helps you focus on what you can control—a strong credit score, a solid down payment, and choosing the right loan structure for your situation. If you're curious about what you might qualify for, I'd love to walk through your specifics and show you what's possible.
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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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HousingWire
When lenders evaluate your mortgage application, they need to look closely at your actual property tax bill versus what taxes might stabilize at after a reassessment. Rules vary by location, and getting this wrong can mean a painful shock down the road. Making sure your lender separates current taxes from future stabilized taxes is one of the best ways to avoid surprises.
| Key takeaway: ask your lender upfront how they're calculating property taxes in your approval, especially if you're buying in a state with reassessment rules. |
Read full article →
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HousingWire
A bill that would have strengthened protections for condo buyers against construction defects stalled in the California legislature and missed the deadline to pass. Late-session amendments sent it back for another round, leaving buyers with the same limited safeguards they have today. If you're shopping for a condo in California, this means you'll want to be extra careful during your inspections.
| Key takeaway: California condo buyers should invest extra time and money in a thorough inspection, since legislative protections didn't improve this year. |
Read full article →
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HousingWire
The 30-year fixed mortgage is holding around 6.66%, and industry forecasters expect roughly $2.2 trillion in loan originations between 2026 and 2028. While rates remain elevated compared to the pandemic lows many remember, this steady outlook gives you a clearer picture for planning a purchase or refinance in the coming months.
| Key takeaway: if you've been on the fence about buying or refinancing, knowing the expected rate range helps you decide whether now or waiting makes more sense for your situation. |
Read full article →
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HousingWire
With Social Security's retirement trust fund projected to face insolvency around 2032, the issue is getting more attention as midterm elections approach. For people in their 50s and 60s planning retirement, this adds another reason to think carefully about when to tap your home equity or other assets. Understanding the timeline helps you make smarter decisions about your nest egg.
| Key takeaway: if you're planning retirement or a major financial move, don't assume Social Security will provide the same income level you expected—build that into your plan now. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
615-422-4705 | https://www.cgmtgteam.com
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