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Mortgage Market Update
Dunn Mortgage Team
Dunn Mortgage Team
Wednesday, September 2, 2026
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The real number that matters in your mortgage |
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There's a lot to think about when you're considering a home loan. This week, I want to focus on one thing that often gets overlooked — but shouldn't.
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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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Payment Planning
Why your monthly payment matters more than the rate
When you're looking at a mortgage, it's easy to fixate on the interest rate — but what really affects your budget is the payment itself. Two loans with similar rates can have very different monthly payments depending on the loan term, down payment, and loan type you choose. A longer loan spreads payments out, lowering them monthly but costing more over time. A shorter term does the opposite. The right choice depends on your comfort level, cash flow, and long-term goals. Understanding this trade-off helps you pick a loan you can actually afford and stick with, rather than one that just sounds good on paper.
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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 Dunn Mortgage Team team any time and we'll walk you through your options. |
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3111 Camino Del Rio North San Diego, CA 92108
619.815.3366 | http://www.PatrickDunnTeam.com
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