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Mortgage Market Update
My Mortgage Company
Scott Isner
Wednesday, September 2, 2026
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Does refinancing work for your situation? |
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Hi there. I'm writing this week because I get asked a lot about whether someone should refinance—and the honest answer is: it depends.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The math depends on how long you plan to stay in your home, your current loan terms, and what closing costs would be. Some borrowers benefit in months; others need years to break even. The key is looking at your full picture: not just the rate, but your timeline and goals. If you've been wondering whether it's worth exploring, I can walk you through the numbers for your situation and show you what refinancing would actually cost versus what you'd save. Let's run the numbers together and see if refinancing makes sense 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
Scott Isner
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