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Mortgage Market Update
My Mortgage Company
Austen Smith
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about a question I hear often: whether it's time to 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 Basics
When refinancing makes sense for your situation
Refinancing isn't right for everyone, but it can be a smart move if your circumstances have shifted. Maybe your credit has improved, rates have moved in your favor, or you're looking to shorten your loan term. The key is understanding what you'd actually save after accounting for closing costs and how long you plan to stay in your home. Even small monthly savings add up over time, but it only makes sense if the math works for your specific situation. I'd be happy to walk through whether refinancing could work for you right now—no pressure, just honest numbers. Reach out if you'd like me to look at your current loan and see if refinancing is worth exploring.
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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
Austen Smith
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