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Mortgage Market Update
My Mortgage Company
Beef Gervais
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Rates move, life changes, and sometimes your mortgage can change with it. Here's what you should know about whether refinancing is 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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question isn't whether rates have moved—it's whether a new loan would meaningfully improve your financial picture. That might mean a lower payment, a shorter loan term, or switching from an adjustable to a fixed rate for peace of mind. But it also comes with closing costs and a new loan timeline, so the math has to work for your specific circumstances. If you're wondering whether refinancing could help you, I'd love to walk through your situation and run the actual numbers. There's no obligation—just clarity. If you'd like to explore whether refinancing makes sense for you, let's talk.
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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
Beef Gervais
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