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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Wednesday, September 2, 2026
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Has your financial picture changed lately? |
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Hi there. A lot can shift in six months—your job, your debts, your goals. Want to know how it affects your mortgage options?
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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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Affordability Check
Your budget today vs. six months ago
If you've been thinking about buying or refinancing, here's something worth knowing: your actual borrowing power can shift even when rates stay flat. Changes in your income, credit score, debts, or down payment savings all play a real role in what you can afford. Some people are surprised to find they qualify for more than they thought. Others discover that paying down a car loan or credit card made a meaningful difference. It's not complicated, but it's worth checking in on. Life changes fast, and your financial picture does too. I'd love to run a fresh look at your situation—no pressure, just clarity. Let's see where you stand with a quick affordability check.
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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 Elijah Bernhardt team any time and we'll walk you through your options. |
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