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Mortgage Market Update
My Mortgage Company
Brandon Shelton
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there — I wanted to share some honest thinking about refinancing this week. It can be a smart move, but only when the math actually works out in your favor.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether your new loan will save you money over time — and that depends on how long you plan to stay in your home, how much you'll pay in closing costs, and what rate you qualify for today. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others tap equity to fund a major expense. The key is running the numbers before you commit. I'm happy to walk you through a quick scenario to see if refinancing could actually work in your favor right now. Let's talk through whether a refinance makes sense for your situation.
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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
Brandon Shelton
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