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Mortgage Market Update
Bill Szlinis
Bill Szlinis
Wednesday, September 2, 2026
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The loan type question worth asking |
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Hi there,
This week I want to touch on something that doesn't always get the attention it deserves: the type of loan you're using, not just the rate attached to it.
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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
Why your loan type matters more than you might think
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—fixed-rate versus adjustable, conventional versus government-backed—shapes your entire borrowing experience. Each program has trade-offs built in: some offer lower starting costs, others provide payment certainty for decades. Your financial situation, timeline, and comfort with risk should guide that choice, not just today's numbers. I've seen borrowers save real money by matching the right loan program to their actual plans. If you're uncertain whether your current loan is still the best fit, or you're just starting your search, let's talk through what makes sense for you. I'd be happy to walk you through which programs might work best for 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 Bill Szlinis team any time and we'll walk you through your options. |
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