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Mortgage Market Update
Talwinder Hanjrah
Talwinder Hanjrah
Wednesday, September 2, 2026
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Your mortgage payment breakdown, explained |
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Hi there. This week I want to walk you through something I see confused often—and it's worth clearing up.
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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 Habits
Why your mortgage payment matters less than you think
Most people focus on the monthly payment number, but I've learned that it's only half the picture. What really builds your wealth is how much of that payment goes toward principal—the part that actually builds equity in your home. Early in your loan, interest takes up most of your payment. But as time goes on, more of each payment chips away at what you owe. Understanding this shift helps you make smarter decisions: whether to stick with your loan, refinance, or make extra payments when you can. The shape of your loan matters as much as the size of it. Let's talk about whether your current loan is working as hard for you as it should be.
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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 Talwinder Hanjrah team any time and we'll walk you through your options. |
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