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Mortgage Market Update
My Mortgage Company
Jordan Caprio
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. I get asked pretty often whether refinancing is a smart move, and the honest answer is: it depends. Let me break down what matters most when you're weighing that 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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Refinancing Basics
When refinancing makes sense for your situation
A lot of homeowners wonder if refinancing is right for them, and the answer really depends on your specific circumstances. Some people refinance to lower their monthly payment, others to shorten their loan term or tap into home equity. The key is understanding what you're trying to accomplish and whether the math works in your favor over time. If you're curious whether a refinance could help you reach a financial goal—whether that's freeing up monthly cash flow, paying off your home faster, or accessing funds for a major expense—I'd be happy to walk through the numbers with you. There's no obligation; sometimes it makes sense, and sometimes it doesn't. Either way, it's worth an honest conversation. Let's talk about whether refinancing aligns with your goals.
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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
Jordan Caprio
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