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Mortgage Market Update
My Mortgage Company
Anthony Rice
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. I want to tackle a question that comes up often, and the answer might surprise you.
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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 Basics
When does refinancing actually make sense?
I get asked this a lot, and the answer isn't always obvious. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only works in your favor when the benefit outweighs the cost of the refinance itself. The math depends on how long you plan to stay in your home, what rates look like today versus your current loan, and your personal financial goals. There's no one-size-fits-all answer, which is why it's worth a real conversation. If you've been thinking about it, I'm happy to walk through whether it pencils out for you. Let's talk through your refinance options and see if it makes sense 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
Anthony Rice
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