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Mortgage Market Update
My Mortgage Company
Envision Lending
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to walk through one of the questions I hear most often: whether it's actually time to refinance your mortgage.
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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 (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 long-term benefit outweighs the closing costs and time it takes to complete. If you've built equity, improved your credit, or seen rates shift significantly since you bought, it's worth a conversation. But if you're planning to move within a few years, refinancing might cost more than you'd save. I help borrowers run the actual math on their specific loan—not guesswork or industry hype. Whether you're curious about a rate-and-term refinance, a cash-out option, or just wondering if now is your moment, let's talk through what makes sense for your timeline and goals. Reach out if you'd like to explore 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
Envision Lending
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