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Mortgage Market Update
My Mortgage Company
FLO Mortgage NMLS 1835856
Wednesday, September 2, 2026
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Does refinancing actually pay off for you? |
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Hi there. This week I want to walk you through one of the most common questions I hear—when does it make sense to refinance, and when is it better to wait?
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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 drop. I talk to homeowners who refinance too often and end up paying more in fees than they save, or who reset their loan term and add years of payments back on. The real question isn't whether rates are lower—it's whether the math works for your situation. Your timeline matters. If you're planning to move in a few years, refinancing might never pay for itself. Your current loan term and how far along you are also make a difference. Before you jump, we should run the actual numbers together: what you'd save monthly versus what closing costs would be, and how long it takes to break even. That's when refinancing becomes a genuine financial win instead of just an interesting idea. If you're curious whether refinancing makes sense for your loan, let's talk through it.
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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
FLO Mortgage NMLS 1835856
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