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Mortgage Market Update
My Mortgage Company
Javier Martinez
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. With so much mortgage advice floating around, it helps to cut through the noise and focus on what actually applies to 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 refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, but it's worth understanding when it might work for you. The main reason people refinance is to lower their monthly payment or shorten their loan term—but there are other reasons too, like switching from an adjustable rate to a fixed one, or tapping into home equity for a big expense. The key is running the numbers: what will you save, and how long will it take to recoup closing costs? Sometimes refinancing makes perfect sense. Sometimes it doesn't. I can help you figure out which camp you're in by looking at your specific loan and situation. If you've been wondering whether refinancing deserves a closer look, let's talk it through. Reach out if you'd like to explore whether refinancing could work for your home.
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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
Javier Martinez
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