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Mortgage Market Update
My Mortgage Company
Mauricio Valencia
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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I talk to homeowners every week who wonder if now is the right time to refinance. Let me share what actually matters when you're weighing that decision.
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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 does it make sense to refinance your mortgage?
Refinancing isn't a one-size-fits-all decision. The right time depends on your situation — where rates are, how long you plan to stay in your home, and what you're hoping to accomplish. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others tap into their home's equity for a major expense or to consolidate debt. The key is understanding your own goals first, then running the numbers to see if the move pencils out. I'm happy to walk through your options without any pressure — sometimes it makes sense, sometimes it doesn't. Either way, knowing where you stand is powerful. Reach out anytime you'd like to explore whether refinancing could work for you.
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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
Mauricio Valencia
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