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Mortgage Market Update
My Mortgage Company
Eric Benitez
Wednesday, September 2, 2026
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Should you refinance? Let's look at your numbers |
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Some weeks the market moves and homeowners wonder if they should act. This week I want to talk about how to tell the difference between a good opportunity and a costly misstep.
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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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Smart Refinancing
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether the numbers work for your situation. A lower rate sounds great, but you'll want to weigh the closing costs and how long you plan to stay in your home. If you're only staying a few more years, the savings might not justify the upfront expense. On the other hand, if you're locked in for the long haul, refinancing could genuinely free up cash or shorten your loan term. I'm here to walk through your specific numbers and help you see the true picture. Let's talk about what makes sense for you. Reach out anytime you want to explore your refinancing options—no pressure, just honest answers.
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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
Eric Benitez
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