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Mortgage Market Update
My Mortgage Company
Hayley Shams
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I want to talk about one of the most common questions I hear — and why the answer is almost never a simple yes or no.
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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 always the right move, even when rates drop or your situation changes. The real question is whether the benefit you'd gain — a lower rate, shorter loan term, or switching loan types — outweighs what you'd pay to refinance. Sometimes it does. Sometimes it doesn't. I help clients run the real numbers so they can decide with confidence instead of guessing. If you've been thinking about refinancing but aren't sure it pencils out, I'm happy to walk through your specific situation with no pressure. There's no one-size-fits-all answer, and that's worth a conversation. Reach out if you'd like to explore whether refinancing could work for 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
Hayley Shams
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