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Mortgage Market Update
My Mortgage Company
Jessica Diego
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there — I wanted to touch base about a question I hear often: should I refinance? Let me share how to think about it.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs your closing costs and how long you plan to stay in your home. Some borrowers benefit quickly; others need years to break even. That's why it pays to run the numbers with someone who knows your specific loan and timeline. I can walk you through what a refinance would actually cost you, what your new payment might look like, and whether the math works for your situation. There's no one-size-fits-all answer, but there's definitely a right answer for you. Let's talk about whether refinancing fits your plan.
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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
Jessica Diego
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