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Mortgage Market Update
My Mortgage Company
Lindsay Luton
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. Sometimes homeowners ask me whether they should refinance, and the answer is almost always: it depends.
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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 Strategy
When it makes sense to refinance your mortgage
Refinancing isn't always the right move—it depends on your situation, how long you plan to stay in your home, and what rates are doing. Some people refinance to lower their monthly payment or shorten their loan term. Others tap into equity for a major expense. The key is understanding what you're trying to accomplish and whether the numbers actually work in your favor. If you've been in your home for a few years, have built equity, or your financial picture has changed, it's worth exploring. I'm happy to walk through the details with you and show you what options might be available. Let's talk through whether refinancing could work for your goals.
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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
Lindsay Luton
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