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Mortgage Market Update
My Mortgage Company
Ann Richardson
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—I hope you're doing well. This week I want to walk you through one of the questions I hear most often from homeowners like 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
Refinancing isn't right for everyone, but it's worth understanding when it might work for you. The main reasons people refinance are to lower their monthly payment, shorten their loan term, tap into home equity for cash, or switch from an adjustable to a fixed rate. Each scenario has different math behind it—and different costs to weigh. That's why I always recommend looking at the full picture: how long you plan to stay in your home, what you'd owe out of pocket, and what you'd save over time. If you've been curious about whether refinancing could help your situation, I'm happy to run the numbers with you. Reach out if you'd like to explore whether refinancing could work for your home 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
Ann Richardson
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