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Mortgage Market Update
My Mortgage Company
Bailey Smith
Wednesday, September 2, 2026
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Should you think about refinancing? |
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Hi there. This week I want to talk about one of the most common questions I hear from homeowners—and one that deserves a real, honest answer.
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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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Refinance Strategy
When a refi actually makes sense
I talk to homeowners all the time who wonder if refinancing is worth it. The truth is, it depends on your situation—how long you plan to stay in your home, what your current loan terms are, and what the market looks like when you're thinking about it. A refinance can lower your monthly payment, shorten your loan term, or help you tap into equity for a major expense. But it's not automatic—there are costs involved, and they need to be weighed against the benefit you'll get. The best move is to run the numbers with someone who knows your full picture. If you'd like to explore whether refinancing could work for your family, I'm here to walk through it with no pressure. Reach out if you'd like me to review your current loan and see what options might be available.
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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
Bailey Smith
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