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Mortgage Market Update
My Mortgage Company
Joel Rodriguez
Wednesday, September 2, 2026
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Could refinancing lower your payment? |
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Hi there. With rate movements happening regularly, it's natural to wonder whether your current mortgage is still the best fit.
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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
When refinancing makes financial sense
Refinancing isn't always the right move, but it can be powerful when the timing and your situation align. The main reason people refinance is to lower their monthly payment or shorten their loan term—but there are other reasons too, like locking in a fixed rate if you have an adjustable mortgage, or tapping equity for a major expense. Before you refinance, it's worth understanding what costs are involved and how long it takes to break even. Every situation is different, which is why I always encourage people to run the numbers with me before deciding. If you've been thinking about whether refinancing could work for you, let's talk through the specifics of your loan and goals. Reach out anytime—I'm happy to walk through whether a refinance makes sense 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
Joel Rodriguez
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