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Mortgage Market Update
My Mortgage Company
Shelby Byington
Wednesday, September 2, 2026
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Should you refinance right now? |
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I get asked about refinancing a lot—and it's a smart question to ask. But the right answer depends on your personal situation, not just the rate.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math comes down to how long you plan to stay in your home and what you'll save versus what you'll pay in closing costs. A refinance that cuts your rate by a quarter point might take years to break even—but one that drops it by a full point could pay for itself in months. Beyond rate, refinancing can also change your loan term, tap your equity, or remove mortgage insurance if your situation has changed. The key is running the real numbers for your specific loan and timeline, not just chasing the headline rate. If you'd like to talk through whether it makes sense for you, I'm here to walk you through it. Let's see if refinancing could work in your favor.
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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
Shelby Byington
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