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Mortgage Market Update
My Mortgage Company
Michael DeVincentis
Wednesday, September 2, 2026
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Does a refinance make sense for you? |
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Welcome back. This week I'm breaking down when refinancing actually pays off—and when it might not be worth the effort.
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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 Strategy
When refinancing makes financial sense
Refinancing isn't always the right move—but it can be worth exploring if your situation has changed. The main reasons borrowers refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. Each scenario plays out differently depending on where rates are, how long you plan to stay in your home, and what you owe. The math has to work in your favor, which is why it's worth talking through your specific numbers with me before making a decision. I can walk you through whether refinancing would actually save you money or if staying put is the smarter choice right now. Let's talk about whether refinancing could work for your situation.
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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
Michael DeVincentis
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