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Mortgage Market Update
My Mortgage Company
Gavin Guthrie
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Refinancing questions come up a lot, and they're often tough to answer without knowing your specific situation. This week I want to break down what actually matters when you're thinking about a refi.
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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 it makes sense to refinance your mortgage
Refinancing isn't always the right move — it depends on your goals, how long you plan to stay in your home, and what your current loan looks like. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or tap into home equity. The key is understanding what you're trying to achieve and whether the costs involved make sense for your situation. If you've been thinking about refinancing but aren't sure whether it's worth exploring, I'd be happy to walk through your options with you. A quick conversation can help you see whether it makes sense to move forward or hold tight. Let's talk about whether refinancing could work for you — just reach out whenever you're ready.
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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
Gavin Guthrie
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