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Mortgage Market Update
My Mortgage Company
Jose Treto
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—I hope you're settling into spring. This week I want to tackle a question I hear often: when is the right 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 refinancing actually makes sense
Refinancing isn't always the right move—even when rates drop. The real question is whether the monthly savings justify closing costs and the time to process a new loan. Some people benefit from a shorter loan term or switching from adjustable to fixed rates. Others find that their current mortgage is already working well for them. The best approach is to run the numbers specific to your situation: how long you plan to stay in your home, what your current rate and balance are, and what new terms you might qualify for. I can help you figure out whether refinancing pencils out for you or whether staying put makes more sense. Let's talk through your options when you're ready.
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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
Jose Treto
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