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Mortgage Market Update
My Mortgage Company
Arizona Filmmakers
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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I want to make sure you're making the most of your mortgage. This week, let's talk about when refinancing actually pencils out.
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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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Smart Refinancing
When does it make sense to refinance?
Refinancing isn't one-size-fits-all, and it's not always the right move. The decision really comes down to your specific situation: how long you plan to stay in your home, what your current loan terms are, and where rates stand relative to your rate. If you've built equity, improved your credit, or seen rates drop significantly, refinancing might lower your monthly payment or shorten your loan term. But there are costs involved, so it pays to do the math first. The longer you stay in the home, the more time you have to recoup those costs through savings. I'd love to walk through whether a refinance makes financial sense for you right now. Let's chat about whether refinancing could work in your favor.
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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
Arizona Filmmakers
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