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Mortgage Market Update
My Mortgage Company
Griffin Stephens
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there — this week I want to address a question I hear often: whether it's time to refinance. Let me share how to think about 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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Refinance Basics
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates look attractive. The math depends on how long you plan to stay in your home, your current loan terms, and what you'd pay in closing costs to get a new loan. Some people refinance to lower their monthly payment or shorten their loan term. Others tap into home equity for a major expense. The key is understanding your own timeline and goals before you apply. If you've been thinking about it but aren't sure whether the numbers work for you, I'm happy to walk through a quick scenario. No obligation — just clarity on whether it makes sense right now. Reach out anytime if you'd like to talk through your situation.
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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
Griffin Stephens
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