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Mortgage Market Update
My Mortgage Company
Nancy Sandoval
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to walk you through one of the biggest questions I hear from homeowners—and one that deserves a straight answer, not just a sales pitch.
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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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Smart Refinancing
When does it make sense to refinance?
A lot of homeowners ask me this question, and the honest answer is: it depends on your situation. Refinancing can help if rates have moved in your favor, your credit has improved, or you want to change your loan term. But there are costs involved—closing costs, appraisal fees, and the time it takes to close. The key is comparing what you'd save over time against what you'd pay upfront. Sometimes it makes sense; sometimes it doesn't. That's why it's worth having a real conversation about your specific numbers and goals. If you've been wondering whether refinancing is right for you, let's talk through the numbers together.
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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
Nancy Sandoval
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