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Mortgage Market Update
My Mortgage Company
Atiyah
Wednesday, September 2, 2026
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When rates move, your budget moves too |
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Hi there—I wanted to touch on something that comes up a lot in conversations with borrowers. Rate changes aren't just numbers; they directly affect what you can afford and what's realistic for your goals.
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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 mortgage rates shift, it affects more than just your monthly payment—it can change which homes fit your budget and how much purchasing power you actually have. A rate increase might mean you qualify for less, while a rate decrease can open up new possibilities. The same home at different rates means different affordability math. That's why it's worth understanding how rate movements play into your bigger picture, whether you're shopping now or thinking ahead. If you're curious about what your true buying power looks like right now, or how changes might affect your plans, I'm here to walk you through it. Let's talk about what makes sense for your situation.
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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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