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Mortgage Market Update
My Mortgage Company
Philip Carcel Munce
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hello,
This week I want to tackle a question I hear often—and one that deserves a real, honest answer instead of a sales pitch.
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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
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain—a lower payment, shorter loan term, or removing PMI—outweighs the costs and time involved. Sometimes staying put is the smarter choice. That's why I like to walk through the numbers with clients first, no pressure. If you've been wondering whether refinancing could work for you, I'm happy to take a look at what you've got and give you straight talk about whether it makes sense right now. Let me know if you'd like to explore whether refinancing could work for your loan.
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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
Philip Carcel Munce
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