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Mortgage Market Update
My Mortgage Company
Barrett Marketing
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. Rates shift, circumstances change, and sometimes homeowners wonder if it's time to make a move. Here's what you should know.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—replace your old loan with a new one—but the real question is whether it actually saves you money. The math depends on a few things: how much longer you plan to stay in the home, what your current rate and loan balance are, and how rates have moved since you borrowed. Sometimes refinancing makes perfect sense. Other times, the closing costs and time involved mean you're better off staying put. I like to walk through the numbers with borrowers so they can see the true picture, not just the sales pitch. There's no one-size-fits-all answer, which is exactly why it's worth a conversation before you decide. Let's talk through whether refinancing could work 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
Barrett Marketing
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