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Mortgage Market Update
My Mortgage Company
Lamar Moore
Wednesday, September 2, 2026
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Does refinancing pencil out for you? |
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Market conditions change, and so do your circumstances. This week I want to talk about timing—and how to know if refinancing deserves your attention.
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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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Refinancing Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term savings justify the costs and time involved in the process. I talk to borrowers who refinance too often chasing small rate drops, and others who hold off when a refinance could genuinely improve their financial picture. The answer depends on your loan's age, how long you plan to stay in your home, your current rate, and your goals—whether that's lowering your payment, shortening your term, or tapping equity for something important. I'd be happy to walk through the numbers specific to your situation and help you decide if now is the right time. Reach out if you'd like to explore whether refinancing makes sense for you right now.
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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
Lamar Moore
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