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Mortgage Market Update
My Mortgage Company
Spencer Javier
Wednesday, September 2, 2026
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Should you refinance? Let's do the math. |
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Hi there. This week I'm walking through one of the questions I hear most often: whether refinancing is worth it right now.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings over time outweigh what you'll spend to refinance—closing costs, appraisals, and your time. If you're planning to stay in your home long enough to recover those costs through lower payments, it might pencil out. But if you're thinking of selling in a few years, the math changes. I run these numbers for borrowers all the time, and sometimes the honest answer is to hold tight. It depends on your timeline, how much equity you have, and where rates actually are today. Let's talk through your specific situation—no obligation. Reach out and we can run the numbers together to see if it 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
Spencer Javier
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