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Mortgage Market Update
Keila Nelson
Keila Nelson
Wednesday, September 2, 2026
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Picking the right mortgage type for you |
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Hi there. Not all mortgages are built alike, and choosing the wrong one can cost you more than money—it can cost you peace of mind.
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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
Not all mortgages work the same way
When you're ready to buy or refinance, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA. They're not just different names—they work very differently, and the right choice depends on your situation, timeline, and comfort level with risk. A fixed-rate mortgage keeps the same payment forever. An adjustable-rate might start lower but can change over time. Government-backed programs like FHA have different down payment and credit requirements than conventional loans. Understanding which program fits your goals helps you make a confident decision instead of just taking whatever's offered first. I'd love to walk you through the options that make sense for where you are right now. Let's find the loan program that works best for your plan.
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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 Keila Nelson team any time and we'll walk you through your options. |
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