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Mortgage Market Update
My Mortgage Company
Darren Cox
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there — this week I want to talk about one of the most common questions I hear: should I refinance?
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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 makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. It depends on how long you plan to stay in your home, what your current loan costs, and how much you'd pay in closing costs to refinance. I often talk to homeowners who are tempted by rate drops, but the math doesn't work if they're planning to sell in a few years. On the flip side, if you've built solid equity and plan to stay put, refinancing could meaningfully lower your monthly payment or shorten your loan term. The key is running the actual numbers for your specific situation — not just looking at headlines about rates moving. Let me help you figure out whether it makes sense for you right now. If you're curious whether a refinance pencils out for your home, I'd be happy to walk through the details with you.
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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
Darren Cox
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