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Mortgage Market Update
My Mortgage Company
Elisa Ryken
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there — I want to tackle a decision that comes up for a lot of homeowners: whether a refinance makes sense right now. Let me break down the real factors that matter.
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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 101
When does refinancing actually make sense?
I get asked this question a lot, and the answer depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity — but it's not automatic profit. You'll want to think about how long you plan to stay in your home, what your current rate is compared to where rates are today, and what closing costs would be. Sometimes the math works beautifully; sometimes you're better off staying put. The best move is different for everyone, and that's why it's worth a conversation rather than a guess. If you're curious whether refinancing could work for you, I'm happy to run the numbers.
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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
Elisa Ryken
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