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Mortgage Market Update
My Mortgage Company
Nick Street - FOR DELETION
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. Sometimes the smartest money move isn't about jumping on the next rate drop—it's about knowing when a change actually serves your goals.
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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 a refi actually make sense?
Refinancing isn't right for everyone, and it's not always about chasing the lowest rate. The real question is whether the benefits outweigh your costs and how long you plan to stay in your home. A lower payment feels good, but if you're resetting your loan term, you might pay more interest over time. That said, if your credit has improved, you've built equity, or your financial situation has changed since you bought, it could be worth exploring. The math is personal—and that's exactly why it's worth a conversation before you decide. If you're curious whether refinancing could work for your situation, reach out and we can walk through the numbers together.
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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
Nick Street - FOR DELETION
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