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Mortgage Market Update
My Mortgage Company
Old- Sheila Garcia
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. Sometimes the smartest financial move is doing nothing. Other times, a small change can make a real difference.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings will outweigh what you'll pay in closing costs and the time you plan to stay in your home. A lower rate sounds great, but if you're selling in two years, you might never recoup those upfront expenses. On the flip side, if you're staying put long-term and your situation has changed—lower rates, improved credit, or different loan needs—refinancing could genuinely lighten your monthly load or shorten your payoff timeline. The math matters more than the headlines. I'm happy to walk you through whether it pencils out for your specific situation. Reach out if you'd like to explore whether refinancing could work for you.
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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
Old- Sheila Garcia
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