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Mortgage Market Update
Tammy Saul
Tammy Saul
Wednesday, September 2, 2026
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Rate changes and what they mean for you |
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Hi there. This week I want to explain something I hear questions about all the time: how interest rates connect to the actual monthly payment you'll make.
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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 & Payments
What happens to your payment when rates change
A lot of folks ask me how rate movements actually affect their monthly payment—and the answer matters whether you're shopping for a mortgage or thinking about locking in a rate soon. When rates go up, your payment goes up on a new loan or refinance. When rates drop, the opposite is true. That's why timing and your current financial picture both play a role in deciding whether now is the right moment for you. The goal is finding the balance between a rate that works for your budget and terms that align with your long-term plans. I'm here to walk you through how the numbers shake out for your specific situation. Let's talk through what rate movements mean for your goals—reach out anytime.
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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 Tammy Saul team any time and we'll walk you through your options. |
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