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Mortgage Market Update
My Mortgage Company
Adam Lewis
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi, I've been fielding a lot of questions lately about whether now is the right time to refinance. It's a smart question to ask — and the answer depends on your specific circumstances.
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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 sounds simple: you replace your current mortgage with a new one, usually to lower your rate or payment. But it only makes financial sense when the savings outweigh what you'll pay in closing costs and fees. That's why timing matters. If rates have dropped meaningfully since you locked in your loan, or if your credit score has improved, refinancing could put real money back in your pocket. The longer you plan to stay in your home, the more those savings add up. That said, not every rate dip is worth pursuing. I help borrowers run the actual numbers so you can decide with confidence, not guesswork. If you've been wondering whether refinancing is right for you, let's talk through 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
Adam Lewis
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