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Mortgage Market Update
Pia Harriman
Pia Harriman
Wednesday, September 2, 2026
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What type of mortgage makes sense for you? |
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There's more to choosing a mortgage than just finding the lowest rate. The loan program itself—the rules, flexibility, and structure—plays a huge role in your monthly payment and total cost over time.
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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 are created equal
When you're ready to buy or refinance, the loan program you choose shapes your monthly payment, interest rate, and long-term costs just as much as market conditions do. Fixed-rate mortgages offer predictability. Adjustable-rate loans may start lower but change over time. Government-backed programs like FHA and VA have different rules and benefits than conventional loans. First-time buyers often qualify for programs they don't know exist. The right fit depends on your timeline, risk tolerance, and financial picture—not just what's advertised loudest. I'd be happy to walk you through what's actually available to you and why one program might make more sense than another for your situation. Let's talk about which loan program fits your goals best.
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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 Pia Harriman team any time and we'll walk you through your options. |
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