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Mortgage Market Update
My Mortgage Company
Jose Ramos
Wednesday, September 2, 2026
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Should you refinance right now? |
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Mortgage decisions aren't one-size-fits-all. This week, I want to help you think clearly about refinancing and whether it's right for 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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Refinancing Readiness
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether a new loan saves you money over the time you plan to stay in your home. That means comparing your current rate and loan terms against what's available now, factoring in closing costs and how long you'll benefit. Some people refinance to lower their monthly payment. Others lock in a shorter loan term to pay off their home faster. A few consolidate debt into their mortgage. What works depends entirely on your situation and timeline. I'd love to walk through the numbers with you and show you whether it makes sense right now. 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
Jose Ramos
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