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Mortgage Market Update
My Mortgage Company
Jeff Pritchard
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. I get questions about refinancing every week, and for good reason—it's one of the biggest financial decisions a homeowner can make.
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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 refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the answer really depends on your situation. If rates drop significantly, your loan balance is still substantial, and you plan to stay in your home long enough to recoup the costs, refinancing can absolutely work in your favor. But if you're in a strong rate already or considering a move in a few years, it might not pencil out. The key is running the numbers with someone who knows your loan and your plans — not just chasing the lowest rate you hear about. I'm happy to walk through the math with you and show whether refinancing would actually put money back in your pocket. If you've been wondering whether now's the time, let's talk through your options.
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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
Jeff Pritchard
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