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Mortgage Market Update
My Mortgage Company
Daniel Quinton
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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There's a lot of noise out there about refinancing. This week, I want to cut through it and help you think clearly about whether it's actually the right move for you.
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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 for your situation
Refinancing isn't one-size-fits-all, but it's worth understanding when it could work in your favor. The most common reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. Each scenario plays out differently depending on your current loan, how long you plan to stay in your home, and where rates stand today. I've seen refinancing save borrowers hundreds of dollars a month—and I've also seen cases where it didn't make sense for someone's specific timeline. The key is running the real numbers on your situation, not just assuming it's automatically a good move. If you've wondered whether refinancing could work for you, let's talk through the details and see what your options actually look like. Reach out if you'd like me to walk through whether refinancing makes sense for your loan.
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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
Daniel Quinton
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