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Mortgage Market Update
My Mortgage Company
Brandon Bailey
Wednesday, September 2, 2026
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Should you refinance? Let's find out |
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Not every rate move calls for a refinance. This week I'm sharing how to know when it's worth it.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefits you'd gain—a lower monthly payment, shorter loan term, or cash out—outweigh the costs and time it takes to close. Sometimes staying put is the smarter choice. I help borrowers run the real numbers so they can see clearly whether a refinance pencils out for their specific goals. If you've been thinking about it but aren't sure, let's talk through your scenario. I can show you what the actual impact would be on your budget and timeline. Reach out if you'd like to explore whether refinancing makes sense for you right now.
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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
Brandon Bailey
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