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Mortgage Market Update
My Mortgage Company
LaTisha Elliott, Mortgage Loan Advisor
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 tackle a question I hear often: should you refinance? Let's break down what actually matters.
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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
I talk with homeowners regularly who wonder if refinancing is right for them. The truth is, it depends on your situation—your loan type, how long you plan to stay in your home, and what's changed since you first borrowed. A rate drop alone doesn't always mean you should refinance; closing costs and the time it takes to break even matter too. But if your circumstances have shifted—maybe your credit improved, your home's value increased, or you want to shorten your loan term—refinancing could be worth exploring. The best way to know is to run the numbers with someone who understands your full picture. I'd be happy to walk you through whether refinancing fits your goals.
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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
LaTisha Elliott, Mortgage Loan Advisor
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