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Mortgage Market Update
My Mortgage Company
Dana Fleischman
Wednesday, September 2, 2026
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Does refinancing pencil out for you? |
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With rates and home values always shifting, refinancing comes up a lot in conversations I have with clients. But it's worth pausing to ask the right questions before you dive in.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The math depends on your loan balance, how long you plan to stay in your home, and the costs involved in switching. If you're thinking about refinancing, it helps to understand what you'd gain (lower payment, shorter timeline, cash out) against what it costs to get there. I've seen borrowers make smart moves by refinancing, and I've also seen people hold steady because the timing just wasn't right for their situation. The best way to know is to run the numbers with someone who knows your loan and goals. Let's talk through whether refinancing makes sense for you right now.
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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
Dana Fleischman
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