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Mortgage Market Update
My Mortgage Company
Jimmy Everetts
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance your mortgage?
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The decision depends on how long you plan to stay in your home, what you'd pay in closing costs, and your current loan terms. If you're planning to move in a few years, the math might not work in your favor. But if you're staying put and your situation has changed—your credit has improved, rates have shifted, or you want to shorten your loan term—it could be worth exploring. I'm happy to run the numbers for you and show what refinancing would actually mean for your monthly payment and long-term savings. Let's talk about whether refinancing fits 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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Your Mortgage Advisor
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My Mortgage Company
Jimmy Everetts
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