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Mortgage Market Update
My Mortgage Company
Amanda Keeland
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to cover one of the most common questions I hear: when is the right time to refinance your mortgage?
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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 monthly savings will outweigh the costs and time to close a new loan. Some borrowers benefit within months; others need years to break even. What matters most is your timeline—how long you plan to stay in the home—and your current loan terms. If you've built equity and your credit is solid, you may qualify for better terms than when you first borrowed. But it's worth running the actual numbers before you apply. I'd be happy to walk through what refinancing could look like for your situation and whether the math works in your favor. Let's talk through whether a refi makes sense 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
Amanda Keeland
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