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Mortgage Market Update
My Mortgage Company
Randy Nederman
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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A lot of homeowners wonder if refinancing is worth it. Let's talk through what actually matters when you're considering 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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates shift. The real question is whether the benefits outweigh your costs and timeline. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for home improvements or consolidate debt. But refinancing involves closing costs and a new application process, so it only pays off if you plan to stay in the home long enough to recoup those expenses. That math is different for everyone, which is why it's worth running the numbers on your specific loan before making a decision. If you're curious whether refinancing could work for you, I'd be happy to walk through the details.
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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
Randy Nederman
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