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Mortgage Market Update
My Mortgage Company
Daniel Skagen | Barrett Financial Group
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there — this week I want to break down one of the questions I hear most often from homeowners like 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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The decision really comes down to your goals: are you trying to lower your monthly payment, shorten your loan term, tap into equity for a big expense, or switch from an adjustable to a fixed rate? Each reason has its own math. Sometimes the costs and timeline don't pencil out; other times, refinancing can be genuinely smart. The best way to know if it makes sense for you is to look at your specific loan, timeline, and what rates are doing. I'm happy to walk through the numbers with you and show you whether refinancing could actually benefit your situation. Let's talk through whether a refinance 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
Daniel Skagen | Barrett Financial Group
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