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Mortgage Market Update
My Mortgage Company
Amy Libonate
Wednesday, September 2, 2026
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Your payment is doing more than you think |
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I want to share something that changed how many of my clients think about their mortgage: what really happens with each payment you make.
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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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Equity Building
What your monthly payment is really doing
Every mortgage payment you make does two things: some goes toward interest, and some goes toward building your equity—your ownership stake in the home. Early on, more of that payment covers interest. But as time goes on, the balance shifts, and more of each payment builds equity you can tap into later. Understanding this split matters because it shows you're not just paying a lender—you're investing in yourself. The longer you stay in your home, the more powerful this becomes. If you're curious about how much equity you might have right now, or whether a refinance could shift that balance in your favor sooner, I'd love to take a look at your situation. Let's talk about your equity and what options might be available to you.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Amy Libonate
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