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Mortgage Market Update
Robert Hendley
Robert Hendley
Wednesday, September 2, 2026
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Your mortgage payment and interest rates |
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Hi — this week I'm breaking down something I hear about a lot: how interest rates connect to your monthly payment, and why it matters.
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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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Payment Planning
What happens to your mortgage payment when rates move
A lot of people ask me whether a rate change means their monthly payment goes up right away. The answer depends on what kind of loan you have. If you're on a fixed-rate mortgage, your payment stays the same for the life of the loan — that's the whole point of "fixed." But if you're considering an adjustable-rate loan, or thinking about refinancing, it's worth understanding how rate movements affect what you'll actually owe each month. When rates rise, your payment can increase; when they fall, you may have an opportunity to lower it. Knowing this helps you plan ahead and make smarter decisions about your finances. If you'd like to walk through how rates might affect your specific situation, I'm here to help.
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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 Robert Hendley team any time and we'll walk you through your options. |
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