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Mortgage Market Update
My Mortgage Company
Keith Scott Mackey
Wednesday, September 2, 2026
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Should you think about refinancing? |
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Hi there. This week I want to cover a question I hear often: is now a good time to refinance?
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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 does refinancing make sense?
Refinancing isn't one-size-fits-all—it works best when your situation has genuinely changed. Maybe rates have moved enough to lower your payment, your credit score has improved since you first borrowed, you're switching from an adjustable rate to a fixed one, or you need cash for something important. The key is doing the math: will the savings over time outweigh the cost to refinance? Not every scenario pencils out, and that's okay. It's worth a conversation if you're wondering whether your current loan still fits your life. I'm happy to walk through whether a refinance makes sense for you—reach out anytime.
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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
Keith Scott Mackey
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