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Mortgage Market Update
My Mortgage Company
FullyScale Sandbox
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to walk you through one of the most common questions I hear from homeowners like you.
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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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Refinance Strategy
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 closing costs and how long you plan to stay in your home. If you're thinking about refinancing, I look at your specific situation—your current loan terms, how much equity you've built, and your timeline. Sometimes a refi is a no-brainer. Other times, putting that money toward your principal or keeping your current loan actually works better. It's worth a conversation to run the numbers and see what makes sense for your goals. Let's talk through 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
FullyScale Sandbox
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