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Mortgage Market Update
Chris Opfer
Christopher R Opfer
Wednesday, September 2, 2026
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When rates shift, what really changes |
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Hi there. This week I want to clear up something I hear about a lot: what rates actually do to your mortgage beyond the monthly number.
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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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Homeownership Costs
What actually changes when rates move
When I talk to clients about rates, I notice the focus is usually on the monthly payment. That makes sense—it's the number you live with every month. But rates affect more than just what you pay each period. A rate change shifts how much of each payment goes toward interest versus principal, which changes how quickly you build equity. It also affects how refinancing might work for you down the road, and what your options look like if life circumstances change. Understanding the full picture helps you make smarter decisions about your mortgage, not just react to headlines. I'd be happy to walk through how this plays out in your specific situation. Let's talk through what rate movement means for you—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 Chris Opfer team any time and we'll walk you through your options. |
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