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Mortgage Market Update
My Mortgage Company
Ali Lindsay
Wednesday, September 2, 2026
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Should you refinance? Here's how to know. |
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Hi there. Rates shift all the time, and when they do, homeowners naturally wonder whether they should refinance. Let me help you think through it clearly.
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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 a refi makes sense—and when it doesn't
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the money you'd save on interest over time outweighs closing costs and the time it takes to break even. If you're planning to stay in your home long enough to recoup those costs, a refi can be a smart way to lower your monthly payment or shorten your loan term. But if you might move or sell in a few years, the math might not work in your favor. I always recommend looking at your specific timeline and numbers before deciding. Ready to figure out if refinancing makes sense for your situation? Let's run the numbers together and see what a refi could actually save 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
Ali Lindsay
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