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Mortgage Market Update
My Mortgage Company
Jeffrey Diaz
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Hi there,
Refinancing can be a smart money move — or a waste of time. Let me break down what actually matters.
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The key is comparing what you'd save against the cost of refinancing itself — and how long you plan to stay in your home. If you're thinking about selling in a few years, the math might not work. But if you're settled in and rates have shifted meaningfully since you closed, it's worth a conversation. I can walk you through your specific situation, look at your current loan details, and help you decide whether refinancing is actually worth your time and money. Curious if refinancing could work for you? Let's talk through your options.
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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
Jeffrey Diaz
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