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Mortgage Market Update
My Mortgage Company
Joseph A Worrell - For Deletion
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. A lot of homeowners think about refinancing, but the timing and the math have to line up. This week I want to walk you through how to know if it's worth considering.
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the long-term benefit outweighs the closing costs and time involved. Some borrowers benefit immediately; others need to stay in their home long enough for the savings to add up. Your loan officer can help you run the numbers based on your actual situation — how long you plan to stay, what your current rate is, and what today's market offers. It's a personalized decision, not a one-size-fits-all one. If you've been wondering whether refinancing could work for you, let's talk through it. Reach out if you'd like to explore whether refinancing makes sense for 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
Joseph A Worrell - For Deletion
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