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Mortgage Market Update
My Mortgage Company
Xpert Home Loans - Sheila Garcia
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Hi there,
This week I want to talk about refinancing—not whether everyone should do it, but how to figure out if it makes sense for *you*.
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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 a one-size-fits-all move—it works best when your specific circumstances line up the right way. Maybe you've built equity, your credit has improved, or you want to shorten your loan term. Other times, the numbers just don't work out in your favor. The key is understanding what you'd actually save (or spend) by refinancing, and whether that benefit justifies the process. If you've been wondering whether it's worth exploring, I'd be happy to walk through your situation without pressure or obligation. Reach out anytime—I can give you a straight answer about whether refinancing is worth considering 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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Your Mortgage Advisor
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My Mortgage Company
Xpert Home Loans - Sheila Garcia
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