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Mortgage Market Update
My Mortgage Company
Katie Sindorf
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Some weeks I hear from readers wondering if now is the time to refinance. It's a smart question to ask, and the answer is different for everyone.
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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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or access to cash—is worth the cost and time involved. Some borrowers see a payoff in months; others find it doesn't pencil out for years, if ever. That's why it helps to run the actual numbers on your specific loan before deciding. If you've been thinking about refinancing but aren't sure whether it's worth pursuing, I'd like to sit down and walk through what it would look like for you. No obligation—just clarity. Let's talk through 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
Katie Sindorf
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