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Mortgage Market Update
My Mortgage Company
Adelina Hanson
Wednesday, September 2, 2026
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Should you refinance? Here's what to consider |
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Hi there. This week I want to talk about something I hear about constantly: refinancing. Let me break down when it actually pencils out.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings from a lower rate—or a shorter loan term—will outweigh what you'll pay in closing costs. Sometimes staying put is the smarter choice. I find that borrowers who run the numbers beforehand sleep better at night. A few things matter: how long you plan to stay in your home, your current loan balance, and your credit profile now versus when you first bought. If you're curious whether refinancing could work for you, I'm happy to walk through the math. No obligation—just honest talk about what might save you money. Reach out if you'd like to explore whether refinancing fits 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
Adelina Hanson
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