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Mortgage Market Update
Eric Painter
Eric Painter
Wednesday, September 2, 2026
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Making your mortgage payment work for you |
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Hi there. This week I want to share something I wish every homeowner did from day one — a simple habit that keeps finances steady and options open.
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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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Smart Money Habits
Your mortgage payment and your budget
One of the smartest moves you can make after closing on a home is to treat your mortgage payment as non-negotiable in your monthly budget — the way you'd treat rent or a car payment. I've seen borrowers who skip this step end up stretched too thin when life happens: a job change, a medical expense, or home repairs. Knowing your exact payment and setting it aside first helps you build a cushion for those moments and keeps you in control. It also makes it easier to spot opportunities down the road — like whether you might benefit from refinancing — because you'll have a clear picture of your finances. If you're not sure what your payment is, or if you'd like to talk through budgeting alongside your mortgage, I'm here to help. Let's review your payment and talk through what fits your life.
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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 Eric Painter team any time and we'll walk you through your options. |
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