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Mortgage Market Update
Taylor Lacy
Taylor Lacy
Wednesday, September 2, 2026
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Down payment: does size really matter? |
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A lot of borrowers ask me about down payments, but many haven't thought through how that choice ripples through the rest of their loan. Let's break it down.
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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 down payment size matters more than you think
Your down payment does more than just reduce what you borrow — it shapes your entire loan experience. A larger down payment can mean lower monthly payments, no mortgage insurance requirement, and better loan terms. A smaller down payment lets you buy sooner and keep cash in your pocket for life's surprises. Neither choice is wrong; it's about what makes sense for your situation right now. The key is understanding the trade-offs so you can decide with confidence. If you're trying to figure out what down payment strategy fits your goals, I'd love to walk through the numbers with you. Reach out, and we can talk through what down payment approach works best for your timeline and budget.
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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 Taylor Lacy team any time and we'll walk you through your options. |
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