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Mortgage Market Update
My Mortgage Company
Mortgage Resources
Wednesday, September 2, 2026
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Does refinancing fit your plan right now? |
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Every homeowner's situation is different, and so are the reasons to refinance. This week I'm breaking down when it actually makes sense.
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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 a one-size-fits-all move—it depends on your goals and where you are in your loan. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or tap into home equity for a major expense. The trade-off is always closing costs and time, so it only pencils out if the benefit outweighs what you'll pay upfront. The best time to explore it is when your circumstances change—a new job, a big life event, or a shift in the market. If you've been in your home a few years and your financial picture looks different than it did at closing, it's worth a conversation. I'm here to walk through the numbers and help you figure out if it's the right move for you. Let's talk about 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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Mortgage Resources
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