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Mortgage Market Update
My Mortgage Company
Elite Lending Team
Wednesday, September 2, 2026
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Should you refinance? Let's talk |
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Hi there. This week I want to cover a question I hear often: when does refinancing actually make sense?
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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 101
When it makes sense to refinance your mortgage
Refinancing isn't one-size-fits-all, and it's not always the right move. The basic idea is straightforward: you replace your current loan with a new one, ideally on better terms. But "better" means different things depending on your situation. Some people refinance to lower their rate and monthly payment. Others refinance to shorten their loan term, or to tap into home equity for a major expense. The catch is that refinancing comes with costs, so you want to make sure the benefit outweighs what you'll pay. That's where it pays to talk through your specific numbers and goals with someone who knows your financial picture. I'd love to walk you through whether refinancing could work for you. Reach out anytime if you'd like to explore what refinancing might look like for your home.
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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
Elite Lending Team
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