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Mortgage Market Update
My Mortgage Company
Rene Montano
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Homeownership gives you options as your life and finances evolve. One option that comes up often is refinancing—but it's not always a clear yes or no.
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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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Smart Refinancing
When it makes sense to refinance your mortgage
Refinancing isn't always the right move, but it can be worth exploring when circumstances shift. Maybe your credit has improved since you bought, or rates have moved in a way that could lower your payment or shorten your loan term. Other times, a refinance lets you tap into home equity for a major expense—without taking on high-interest debt elsewhere. The key is understanding your own financial picture: how long you plan to stay, what closing costs actually are, and whether the monthly savings justify them. If you're wondering whether refinancing could work for you, I'm happy to walk through the numbers and help you decide. Let's talk about whether refinancing 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
Rene Montano
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