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Mortgage Market Update
My Mortgage Company
Mamta Khachane
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to tackle a question I hear often: when is refinancing actually worth doing?
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the monthly savings justify the costs and time to close. Some borrowers benefit immediately; others need to stay in their home long enough for the math to work out. It depends on your situation—how much you owe, your current rate, how long you plan to stay, and what fees are involved. The best way to know? Pull your loan details and let's run the numbers together. There's no obligation, and clarity costs nothing. If you've been wondering whether refinancing makes sense for you, reach out and we can walk through it.
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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
Mamta Khachane
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