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Mortgage Market Update
My Mortgage Company
Lorraine Amador
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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I work with homeowners every week who aren't sure whether refinancing makes sense. Today I'm breaking down when it typically pencils out—and when it might not.
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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 Strategy
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all. Some borrowers benefit from a lower rate or a shorter loan term; others use it to tap equity for a major expense or consolidate debt. The key is knowing whether the math works for you and how long you plan to stay in your home. I help borrowers run the actual numbers—factoring in closing costs, your timeline, and your goals—so the decision feels solid, not rushed. If you've been thinking about whether now is the right moment, I'm happy to walk through your specific situation with no pressure. Let's talk through whether refinancing 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
Lorraine Amador
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