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Mortgage Market Update
My Mortgage Company
Kimberly Kemppainen
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there. Not every money move works for every homeowner, and refinancing is a perfect example. Let me break down what actually matters when you're weighing this decision.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefits outweigh the costs over the time you plan to stay in your home. If you're thinking about selling in a few years, refinancing might not pencil out. But if you're staying put and your financial picture has improved—better credit, more equity, or lower rates—it could free up monthly cash flow or shorten your loan term. The key is looking at the full picture: your timeline, your goals, and what you'd actually save. I'd be happy to walk through your specific scenario and run the numbers so you can decide with confidence. Let's talk through whether refinancing fits your plan right now.
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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
Kimberly Kemppainen
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