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Mortgage Market Update
My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
Wednesday, September 2, 2026
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Rates move—here's what that means for you |
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Hi there. This week I want to cover something straightforward but important: the real relationship between interest rates and your monthly payment.
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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 & Payments
What happens to your payment when rates change
Rate movements get a lot of attention, but I want to make sure you understand what they actually mean for your wallet. When rates go up, your monthly payment goes up—and vice versa. The relationship is direct and immediate. If you're thinking about buying soon, or you're curious about what a refinance might do for you, knowing this connection helps you make real decisions instead of just reacting to headlines. The good news is that small rate changes don't always mean huge payment swings, and there are strategies we can use depending on your situation. I'm happy to walk through what specific rate scenarios would mean for your actual loan. Let's talk about what rates mean for your personal 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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Your Mortgage Advisor
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My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
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