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Mortgage Market Update
My Mortgage Company
Peter Alongi
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there,
One of the most common questions I get is whether now is a good time to refinance. The answer depends on more than just rates.
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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 sounds like a one-size-fits-all solution, but the truth is more nuanced. It can lower your monthly payment, shorten your loan term, or switch you from an adjustable to a fixed rate—but only if the numbers work for your situation. The key is weighing the costs of refinancing against the long-term benefit. If you're planning to stay in your home for several more years, the math often favors it. But if you're thinking of moving soon, the upfront costs might not pencil out. I see borrowers make smarter decisions when they take time to understand their own timeline and goals first. That's where I come in—I can walk you through whether refinancing fits where you're headed. Let's talk through whether refinancing makes sense for you right now.
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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 Alongi
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