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Mortgage Market Update
My Mortgage Company
Lexi Blackwell
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Not every rate movement calls for a refinance. This week, let's look at when it 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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Refinancing Basics
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether a new loan saves you money over the time you plan to stay in your home. You'll want to factor in closing costs, how long you've been paying your current mortgage, and your timeline. Sometimes staying put is smarter. Other times, refinancing unlocks real savings or lets you tap equity for a major expense. The key is running the actual numbers for your situation, not just chasing a rate move. I'm happy to walk you through the math and help you figure out if it's worth exploring. Let's talk through whether 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
Lexi Blackwell
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