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Mortgage Market Update
My Mortgage Company
Richard Pisnoy
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to tackle a question I hear often: is now a good time to refinance?
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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 101
When refinancing actually makes sense
Refinancing isn't right for everyone, and it's not always about chasing the lowest rate. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. That might mean lowering your interest rate, shortening your loan term, switching from adjustable to fixed, or even cashing out equity for a smart home or financial goal. The math works differently for each situation—and it depends on how long you plan to stay in your home. I'd be happy to walk through whether refinancing could work for you, or help you understand when it probably doesn't. Either way, you'll have clarity instead of guessing. Let's talk through your specific situation and run the real numbers together.
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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
Richard Pisnoy
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