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Mortgage Market Update
My Mortgage Company
Russ Cox
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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I get asked about refinancing a lot, and it's always the right question to ask. The tricky part is figuring out if it makes sense for you.
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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 refinancing makes sense for your situation
A lot of homeowners wonder whether refinancing is worth exploring, but the answer depends on your unique circumstances. Your loan type, how long you plan to stay in your home, your credit profile, and where rates are headed all play a role. Some people refinance to lower their payment, others to shorten their loan term or tap into equity for a major expense. The key is understanding what you're trying to accomplish and whether the numbers actually work in your favor. I'm happy to walk through your options with no pressure — sometimes refinancing makes perfect sense, and sometimes staying put is the smarter move. Let's talk through whether refinancing could work for 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
Russ Cox
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