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Mortgage Market Update
My Mortgage Company
JAG
Wednesday, September 2, 2026
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Thinking about refinancing? Read this first |
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Hi there. This week I'm walking you through one of the most common questions I hear—and why the answer isn't always yes.
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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 benefit you'd gain outweighs the cost and time involved in closing a new loan. Sometimes staying put is the smarter choice—especially if you're already a few years into your mortgage or planning to sell within the next several years. I always recommend we run the actual numbers for your situation: how much you'd save monthly, how long before you break even on closing costs, and what your goals are for your home. There's no one-size-fits-all answer, which is why it's worth a real conversation. Let's talk through whether refinancing makes sense for you right now.
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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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