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Mortgage Market Update
My Mortgage Company
Lacie Anvik
Wednesday, September 2, 2026
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Should you refinance? Here's what to consider |
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I want to help you make smart decisions about your mortgage, not just the initial one. This week I'm breaking down when refinancing actually makes sense.
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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 main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity for a specific need. But there are costs involved—closing costs, a new appraisal, and the time to process. That's why it matters to look at the full picture: how long you plan to stay in your home, what you'd save each month, and when those savings would offset what you're paying upfront. Sometimes staying put makes more financial sense than refinancing. I'm happy to walk through the numbers for your specific loan and help you figure out if it's worth exploring right now. Give me a call or send a message if you'd like to 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
Lacie Anvik
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