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Mortgage Market Update
My Mortgage Company
Kevin Francis
Wednesday, September 2, 2026
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Does refinancing pay off for you? |
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Hi there. Sometimes the smartest financial move is knowing when *not* to make one.
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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 refinancing makes sense (and when it doesn't)
Refinancing sounds simple on the surface—trade your old loan for a new one with better terms. But it's not always the right move, and the math matters. Your break-even point depends on how long you plan to stay in your home, your new interest rate, closing costs, and how much you'd lower your payment. Some people refinance to shorten their loan term or tap equity for a major expense. Others are chasing a rate drop that might not be worth the upfront costs. I help clients run the actual numbers so they know whether refinancing puts them ahead or just adds unnecessary expense. The answer is usually pretty clear once we dig in. Let's talk through whether it 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
Kevin Francis
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