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Mortgage Market Update
Rita Rehana
Rita Rehana
Wednesday, September 2, 2026
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What we need to know before you apply |
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Hi there. I want to walk you through the lending side of things—what we're really looking for when you come to us.
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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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Getting Ready
What lenders look at when you apply
When you're ready to buy or refinance, knowing what we're reviewing helps you prepare. We look at your credit history, income stability, existing debts, and down payment. We also want to understand your long-term plans—are you staying in this home for years, or is this a stepping stone? The stronger your overall picture, the smoother your process tends to go. If there are rough spots, we can often work around them or suggest ways to strengthen your application. The best time to talk is before you're in a hurry. Let's discuss where you stand and what might matter most 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 Rita Rehana team any time and we'll walk you through your options. |
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