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Mortgage Market Update
Alessandro Rivera
Alessandro Rivera
Wednesday, September 2, 2026
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When your payment goes up (and what you can do) |
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Hi there. We're keeping tabs on what affects your mortgage costs so you're never surprised by a bill.
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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
Why your mortgage payment might change (even if your rate doesn't)
If you have an adjustable-rate mortgage, an ARM, your rate is fixed for a set period—then it adjusts annually or semi-annually after that. When adjustment time comes, your monthly payment can go up or down based on current market rates. But there's another reason payments shift: property taxes and homeowners insurance. Both can increase year to year, and since most lenders bundle these into your monthly payment through escrow, you'll notice the difference in your bill. Understanding what drives your payment helps you budget confidently and spot opportunities to refinance into a fixed rate if an adjustment is coming. If you'd like to review your mortgage details and talk through what might be ahead, reach out anytime.
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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 Alessandro Rivera team any time and we'll walk you through your options. |
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