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Mortgage Market Update
My Mortgage Company
Dorian Weber
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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Hi there,
I wanted to share some insight on a question I hear often: when does refinancing actually make sense?
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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 it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all move, and the right time depends on your goals and situation. Some people refinance to lower their monthly payment, others to shorten their loan term or switch from adjustable to fixed rates. The key is understanding what you're trying to accomplish and whether the benefits outweigh the costs involved. If you've been in your home for a while, built equity, or your financial picture has improved, refinancing might be worth exploring. I'd be happy to walk you through the numbers and see if it makes sense for you. Reach out and let's talk through whether refinancing could work in your favor.
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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
Dorian Weber
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