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Mortgage Market Update
My Mortgage Company
Kevin Fugit
Wednesday, September 2, 2026
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Should you refinance this month? |
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Hi there. Each week I share real insights that can help you make smarter decisions about your home and your mortgage.
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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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Smart Money Moves
What to do when rates drop
When mortgage rates move lower, homeowners often face a choice: refinance to a new loan, or stay put. The right answer depends on your situation—how long you plan to stay in your home, what your current rate and balance are, and whether the monthly savings justify any costs involved. I've seen borrowers benefit enormously from refinancing at the right time, but I've also seen others make moves they later regretted because they didn't think it through. The key is understanding your own numbers and timeline, not just chasing a headline rate. If you're curious whether a rate move might work in your favor, I'd love to run some scenarios with you. Let's talk through whether now 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
Kevin Fugit
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