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Mortgage Market Update
Omar Navarro
Omar Navarro
Wednesday, September 2, 2026
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When rates move, so does your budget |
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Hi there. Market conditions shift constantly, and so does the math behind your monthly payment. Here's what you should know this week.
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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 Check
Your budget may have shifted—here's why
When rates move, your monthly payment changes, even if nothing else in your life does. A home you could comfortably afford last month might stretch your budget today—or feel easier if rates have dipped. The same applies if you're thinking about buying soon. It's worth reviewing what you can actually carry each month, not just what you're approved for. I've seen plenty of borrowers realize their true comfort zone is different from what they assumed. If you haven't looked at your numbers in a while, now is a good time. I'm here to walk through your situation and help you see what really makes sense for your household. Let's talk through what your budget looks like right now.
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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 Omar Navarro team any time and we'll walk you through your options. |
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