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Mortgage Market Update
Ross Osten
Ross Osten
Wednesday, September 2, 2026
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When rates move, here's what changes for you |
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Rates are always moving, and I know that can feel confusing. This week I want to break down exactly how those movements affect your mortgage—whether you're buying or already a homeowner.
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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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Rate Movement
What happens to your payment when rates shift
A lot of people ask me: if rates go up or down a quarter point, what does that actually mean for my monthly payment? The answer depends on whether you're shopping for a new mortgage or thinking about refinancing an existing one. If you're in the market to buy, even small rate changes can affect how much home you can afford and what you'll pay each month. If you already have a mortgage, rate changes matter most if you're considering a refinance—and it's worth running the numbers to see if it makes sense for your situation. The key is understanding how rates tie directly to your wallet, not just the headlines. Let me walk you through what a rate move would mean for you—just reach out and we can talk through your specific scenario.
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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 Ross Osten team any time and we'll walk you through your options. |
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