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Mortgage Market Update
Agostino (Augie) Iacono | Powered by Barrett Financial Group
Agostino (Augie) Iacono | Powered by Barrett Financial Group
Wednesday, September 2, 2026
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Your payment matters more than you think |
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Hi there—this week I want to share something I've learned from years of helping people find the right mortgage.
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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 Habits
Why your mortgage payment matters more than the rate alone
When you're shopping for a loan or thinking about refinancing, it's easy to fixate on the interest rate. But here's what I see happen: borrowers chase the lowest rate and miss the bigger picture. Your actual monthly payment depends on the rate, yes—but also on the loan term, any points you pay upfront, and what you're borrowing. A slightly higher rate on a 15-year loan might mean a lower overall cost than a lower rate spread over 30 years. The best loan isn't always the one with the smallest number in the rate box. It's the one that fits your budget and your long-term goals. Let's talk through what actually makes sense for your situation. Reach out if you'd like to walk through what different loan choices would really cost you each month.
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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 Agostino (Augie) Iacono | Powered by Barrett Financial Group team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Agostino (Augie) Iacono | Powered by Barrett Financial Group
Agostino (Augie) Iacono | Powered by Barrett Financial Group
Augie@BarrettFinancial.com
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