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Mortgage Market Update
My Mortgage Company
Joanne Hudson - Blank Account
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. I wanted to touch on a question I hear often: is this the right time to refinance? Let me break it down.
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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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't right for everyone, and the right time depends on your situation. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap into home equity for a big expense or consolidate debt. The catch: refinancing means a new application, appraisal, and closing costs—so the savings have to be worth it. That's why it's worth a conversation before you decide. I can walk you through whether it makes financial sense for you right now, what your options look like, and what the real timeline and costs would be. Let's talk about whether refinancing could work for your goals.
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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
Joanne Hudson - Blank Account
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