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Mortgage Market Update
My Mortgage Company
Alan Gonzalez
Wednesday, September 2, 2026
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Is your current mortgage still the right fit? |
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Hi there. Some weeks, I hear from homeowners who wonder if they should refinance but aren't sure where to start.
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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 in your favor. The biggest reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. But there are costs involved—closing costs, appraisal fees, title work—so the math matters. If you're planning to stay in your home long enough to recoup those costs through savings, it can be a smart move. The best way to know if it makes sense for you is to run the numbers with someone who knows your specific loan and goals. If you're curious whether refinancing could help, I'd be happy to walk through your options with 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
Alan Gonzalez
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