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Mortgage Market Update
My Mortgage Company
Michael Denzy
Wednesday, September 2, 2026
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Does a refinance pencil out for you? |
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Not every rate movement calls for a refinance. This week, I'm sharing how to know whether it's worth your time and money to apply.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings you'd gain over time outweigh the costs of closing a new loan. That math depends on how long you plan to stay in your home, your current loan balance, and how much your situation has changed since you first borrowed. Some folks refinance to lower their payment or shorten their timeline. Others use it to tap equity for a major expense. The best reason to refinance is when it genuinely improves your financial position — not just because rates moved. I'd be happy to walk through your specific numbers and help you figure out if it makes sense for you right now. Let's talk through your refinancing options and see what pencils out.
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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
Michael Denzy
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