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Mortgage Market Update
My Mortgage Company
Julio C Quintana — Julio C Quintana
Wednesday, September 2, 2026
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Your mortgage payment and interest rates explained |
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Hi there. Each week I share what's on my mind about mortgages, home equity, and smart money moves that matter to homeowners and buyers like you.
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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
What happens to your mortgage when rates shift
If you've been watching rates move, you might wonder how changes affect your monthly payment. Here's what's important to understand: if you locked in a fixed-rate mortgage, your payment stays the same for the life of the loan—rate movements don't touch it. But if you're shopping for a home or considering a refinance, rate changes directly impact what you'd owe each month. Even small shifts add up over 30 years. That's why it pays to understand how rates work and where your finances stand before you make a move. I'm here to walk you through the math and help you see what different scenarios might look like for your situation. Reach out anytime—I'm happy to talk through how rates might affect your options.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Julio C Quintana — Julio C Quintana
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