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Mortgage Market Update
My Mortgage Company
Andy Treno
Wednesday, September 2, 2026
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Should you look into refinancing? |
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Hi there. I wanted to touch base this week about a question I hear often from homeowners in your position.
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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 Strategy
When does it make sense to refinance?
A lot of homeowners ask me this, and the answer depends on your situation. Refinancing isn't always the right move—it makes the most sense when your financial picture has genuinely improved, like a stronger credit score or significant equity built up. The goal is to lower your monthly payment, reduce your loan term, or lock in favorable terms before they shift. But refinancing comes with costs, so you want to make sure the long-term benefit outweighs what you'll pay upfront. Every situation is different, which is why it's worth having a real conversation about your specific goals. If you're curious whether refinancing could work for you, let's talk through the numbers.
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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
Andy Treno
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