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Mortgage Market Update
My Mortgage Company
Pete Green
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there, I hope this week is treating you well. Today I want to talk about one of the questions I hear most often from homeowners: should I refinance?
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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 a refi makes sense (and when it doesn't)
Refinancing can be a smart move, but it's not right for everyone or every situation. The math depends on how long you plan to stay in your home, what rates are doing, how much you owe, and your credit profile today. Some people refinance to lower their monthly payment. Others use it to shorten their loan term or tap into home equity for a renovation or debt consolidation. The key is understanding your own goals first — then we can run the numbers to see if refinancing gets you there. I'm happy to walk through the costs, timeline, and what you'd actually save. No obligation, just clarity. Let me know if you'd like to explore whether refinancing works 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
Pete Green
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