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Mortgage Market Update
My Mortgage Company
Amy Gargala
Wednesday, September 2, 2026
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Should you refinance right now? |
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I field a lot of refinance questions — and not all of them lead to a "yes." This week, I'm sharing how to know if refinancing is actually right for your situation.
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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 actually makes sense
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates drop or your home value climbs. The math has to work for you — whether you're staying in your home long enough to recoup closing costs, whether a lower payment actually improves your financial picture, or whether a different loan type solves a real problem you're facing. I've also seen borrowers refinance into a worse position because they didn't think through the long-term picture. The good news is that clarity is just a conversation away. I can walk you through the numbers specific to your loan and help you decide if a refinance is worth pursuing right now. Let's talk through whether refinancing makes sense 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
Amy Gargala
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