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Mortgage Market Update
My Mortgage Company
Scott John Millich
Wednesday, September 2, 2026
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Should you refinance right now? |
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Markets shift, life changes, and sometimes your mortgage needs to shift with it. Let's talk about when refinancing 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 is whether the long-term benefit outweighs the cost of closing. Some borrowers benefit from a lower rate or shorter loan term; others find that breaking even takes longer than they plan to stay in the home. Then there's the peace of mind factor—lower monthly payment, different loan type, or switching to a fixed rate when life gets uncertain. I help clients run the numbers honestly, not just chase rates. If you've been wondering whether now is your moment to refinance, let's talk through your specific situation. Reach out and we can review whether refinancing makes sense 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
Scott John Millich
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