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Mortgage Market Update
My Mortgage Company
Georgia Kelley
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—I'm sharing what I'm hearing from clients lately and what might be worth thinking about for your home loan.
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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 a one-size-fits-all move—it depends on your goals, timeline, and current loan. Some people refinance to lower their monthly payment, others to shorten their loan term or tap equity for a major expense. The key is understanding what you'd gain versus what it costs to make the switch. Even if rates haven't moved dramatically, changes in your credit score, home value, or financial picture might open up better terms than you had before. If you've been wondering whether now is the right time for you, I'd love to walk through the numbers and help you see if it makes sense. Reach out whenever you'd like to explore whether refinancing could work for your situation.
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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
Georgia Kelley
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