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Mortgage Market Update
My Mortgage Company
Peter Spinella
Wednesday, September 2, 2026
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Should you think about refinancing? |
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I get a lot of questions about when to refinance—and for good reason. It's one of the biggest financial moves you can make as a homeowner.
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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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Refinance Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. But if your financial picture has changed—better credit, higher home value, or different life goals—it might be worth a conversation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, tap home equity for a big expense, or move out of an adjustable rate into something stable. Each has trade-offs, and the math depends on how long you plan to stay in your home. I'd rather help you think through whether it makes sense for you than push you toward something that doesn't. Let's talk about your goals and see if it's the right timing. Reach out if you'd like to explore what refinancing could look like in 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
Peter Spinella
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