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Mortgage Market Update
My Mortgage Company
Josh Lyon
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Not every homeowner benefit applies to every homeowner. This week, I want to help you decide if refinancing is actually worth your time and energy.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether your new loan will save you money over the time you plan to stay in your home. Sometimes a lower rate still means a longer payoff period or higher fees that eat into savings. Other times, you might have built enough equity to remove mortgage insurance or consolidate debt in a smarter way. I always recommend running the math first—not guessing. If you're curious whether refinancing could benefit you, I'm happy to walk through your specific scenario with no obligation. Reach out anytime you want to talk through whether a refinance 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
Josh Lyon
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