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Mortgage Market Update
Ryan Leahy
Ryan Leahy
Wednesday, September 2, 2026
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Picking the right loan for your situation |
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When you're shopping for a mortgage, it's natural to ask friends what they did. But here's the thing: their deal may not be your deal.
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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
Why your neighbor's loan might not work for you
Not all mortgages are created equal, and what worked perfectly for someone else may not be your best fit. Different loan programs offer different advantages — some prioritize lower upfront costs, others reward a larger down payment, and some are designed specifically for first-time buyers or those with unique financial situations. Your credit profile, income, savings, timeline, and long-term plans all shape which program makes the most sense. I've seen borrowers leave money on the table by choosing a loan based on a friend's recommendation rather than their own circumstances. The right program for you depends on your full picture, not theirs. Let's talk about which loan program aligns best with your 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 Ryan Leahy team any time and we'll walk you through your options. |
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