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Mortgage Market Update
My Mortgage Company
Gigi Prieto
Wednesday, September 2, 2026
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Should you refinance? Let's do the math |
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Hi there. This week I want to talk about one of the most common questions I hear: when is the right time to refinance?
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'll pay in closing costs, and your current loan terms. Sometimes a small rate improvement doesn't pencil out if you're selling in a few years. Other times, the savings are clear and worth acting on. I've seen borrowers leave money on the table by waiting for "perfect" rates that never come, and others refinance too often and eat up gains in fees. The key is running the actual numbers for your situation—not chasing headlines or your neighbor's deal. If you're wondering whether a refinance would work in your favor right now, let's walk through it together. Give me a call and we'll look at whether refinancing makes sense for 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
Gigi Prieto
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