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Mortgage Market Update
My Mortgage Company
Sabrina Linman
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. With mortgage rates shifting, I'm getting a lot of questions about whether now is the right time to refinance. Let me share what actually moves the needle.
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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 a rate drop is worth the paperwork
Not every rate movement means you should refinance. There's a real cost to closing a new loan—appraisals, title work, underwriting fees—and it takes time. But when rates shift meaningfully lower, the math can work in your favor. A refinance locks in a lower payment, reduces the total interest you'll pay over the life of the loan, and can shorten your payoff timeline if you want it to. The key is running the numbers: how much will you save each month, how long until closing costs pay for themselves, and how long you plan to stay in the home. That's where I come in. If you've been curious whether a refinance makes sense for your situation, I'm happy to walk through the calculation with you—no obligation. Let's run the numbers and see if 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
Sabrina Linman
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