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Mortgage Market Update
My Mortgage Company
Pearl Cook | Edge Home Finance
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there—this week I want to cover a question I hear often: refinancing. It's easier to understand than you might think.
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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 it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all move, but it's worth understanding when it might work in your favor. The most common reason people refinance is to lower their monthly payment or reduce the total interest paid over the life of the loan — but timing, your current loan terms, and how long you plan to stay in your home all matter. There are other reasons too: switching from an adjustable to a fixed rate for predictability, or tapping your equity for a major expense. The key is weighing the benefits against closing costs and the time it takes to break even. If you're wondering whether refinancing could improve your financial picture, I'd love to walk through the specifics with you. Let's talk about whether refinancing makes sense for 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
Pearl Cook | Edge Home Finance
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