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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to clear up some confusion around refinancing—when it's worth doing and when it might not be.
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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 actually makes sense
Refinancing isn't a one-size-fits-all move. The real question isn't whether rates have dropped—it's whether a new loan makes financial sense for your situation. Some people benefit from refinancing to a shorter term and building equity faster. Others need to lower their monthly payment to free up cash flow. A few refinance to tap equity for a major expense. The key is understanding your own goals first, then looking at whether the numbers support the change. I'm happy to walk through what refinancing could look like for you, no pressure or obligation. Let's talk about whether refinancing is worth exploring for your home.
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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
Stacey Elshehaby
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