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Mortgage Market Update
My Mortgage Company
David Schindel
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. I've been getting a lot of questions about refinancing lately, so I wanted to share some clear thinking on when it actually pencils out.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings over time outweigh the costs of the new loan. If you're planning to stay in your home for several more years, a refi might make sense. But if you're thinking about moving or selling in the next few years, the math often doesn't work in your favor. I've also found that borrowers sometimes refinance just because rates dropped a little — without actually running the numbers. That's worth avoiding. The best approach is to look at your specific situation: your current loan balance, how long you plan to keep the home, and what your new payment and costs would be. That's where a real conversation helps. Let's talk through your options and see if refinancing fits your plan. Reach out anytime you'd like to explore whether refinancing 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
David Schindel
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