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Mortgage Market Update
My Mortgage Company
Jeremy Coccimiglio
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: when should a homeowner actually consider refinancing?
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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. The real question is whether your savings over time will outweigh the cost of closing a new loan. Some people refinance to lower their rate or monthly payment. Others use it to shorten their loan term, or to tap into home equity for a major expense. But if you're planning to sell or move soon, refinancing fees might eat up any benefit. That's why it pays to do the math first and talk through your actual timeline and goals—not just chase the lowest rate you see advertised. If you're wondering whether refinancing could work for your situation, I'd be happy to walk through the numbers with 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
Jeremy Coccimiglio
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