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Mortgage Market Update
My Mortgage Company
Kiro Habib
Wednesday, September 2, 2026
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Does refinancing fit your goals? |
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Hi there. This week I want to cover a topic that comes up often: when and why homeowners decide to refinance, and how to know if it's right for 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 it makes sense to refinance your mortgage
Refinancing isn't just about chasing lower rates—it can also be a smart move if you want to shorten your loan term, lock in a fixed rate, or tap your home's equity for a major expense. The math depends on how long you plan to stay in your home and what your current loan looks like. Some people refinance to free up monthly cash flow; others do it to pay off their mortgage faster. The key is understanding your own situation and whether the benefits outweigh any costs involved. I'm happy to walk through the numbers with you and show you what refinancing could mean for your specific scenario. Let's talk about 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
Kiro Habib
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