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Mortgage Market Update
Amy Velsh
Amy Velsh
Wednesday, September 2, 2026
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When rates move, your options change |
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Hi there. This week I'm breaking down why interest rate moves matter to you — and what you should think about when they do.
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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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Home Affordability
What changes when rates move
When interest rates shift — even by a small amount — it touches almost everything about your mortgage: your monthly payment, how much home you can afford, and whether refinancing makes sense. A lot of borrowers don't realize that rate changes ripple beyond just the interest you pay. They affect your buying power, your long-term costs, and sometimes the loan programs available to you. If you've been thinking about buying, selling, or taking a fresh look at your current loan, understanding how rates shape your options is the first step to making a move that's right for your situation. Let's talk about what a rate environment means for your goals.
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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 Amy Velsh team any time and we'll walk you through your options. |
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