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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Wednesday, September 2, 2026
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Choosing between fixed and adjustable rates |
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Hi there. One of the biggest decisions in getting a mortgage isn't always obvious at first glance—but it shapes your payment and peace of mind for years to come.
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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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Loan Programs
Fixed or adjustable: which loan fits your plan?
When you're shopping for a mortgage, the interest rate gets most of the attention—but the loan structure itself matters just as much. A fixed-rate mortgage keeps your payment steady for the life of the loan, which works well if you plan to stay put and want predictability. An adjustable-rate mortgage may start lower, but the rate can change after an initial period, which could increase your payment down the road. Your choice depends on how long you expect to keep the home, your comfort with payment changes, and where rates are headed. I'm happy to walk through both options and show you what each scenario looks like for your situation. Let's talk through which loan structure makes sense for your timeline and goals.
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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 Jessica Higgins team any time and we'll walk you through your options. |
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