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Mortgage Market Update
My Mortgage Company
Alex Rayner
Wednesday, September 2, 2026
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Thinking about refinancing? Here's what to consider |
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Hi there. A lot of homeowners ask me whether they should refinance, but the answer really depends on your goals and timeline.
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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 actually makes sense
Refinancing isn't right for everyone, and the decision really comes down to your personal situation. Some people refinance to lower their monthly payment, others to shorten their loan term or switch from an adjustable rate to a fixed one. The key is understanding what you're trying to accomplish and whether the costs involved justify the benefit. I always encourage borrowers to think long-term: if you're planning to sell in a couple of years, refinancing might not pencil out. But if you're staying put and your circumstances have changed—maybe your credit has improved, or rates have shifted—it's worth a conversation. Let's talk about what refinancing could look like for you. If you're wondering whether refinancing makes sense for your home, I'd be happy to walk through your options.
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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
Alex Rayner
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