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Mortgage Market Update
My Mortgage Company
Joshua Morales
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Not every rate movement means you should refinance. This week I'm breaking down what actually matters when you're thinking 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 look appealing. The real question is whether the long-term benefit outweighs the upfront cost and time. Some borrowers benefit from a lower rate or shorter loan term; others are better off staying put. A few things that matter: how long you plan to stay in your home, your current loan balance, and how your new payment would actually hit your monthly budget. I'd rather see you make a clear-eyed decision than chase a rate that looks good on paper but doesn't make sense for your situation. Let's talk through the numbers together and see what actually works for you. Reach out and we can walk through whether refinancing pencils out for your specific loan.
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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
Joshua Morales
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