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Mortgage Market Update
My Mortgage Company
Rico Singleton
Wednesday, September 2, 2026
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Should you refinance? Here's how to know. |
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A lot of homeowners wonder if now is the time to refinance. The answer depends on your goals—not just the rate environment.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain outweighs the cost and time involved in the process. If you've built equity, improved your credit, or your financial situation has changed since you got your current loan, refinancing might lower your payment or shorten your timeline. But if you're planning to move in a few years, the savings may not justify closing costs. I help clients do the math on their specific situation—because a good refinance should make your financial life easier, not just look good on paper. If you're curious whether a refi pencils out for you, I'm happy to walk through the numbers.
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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
Rico Singleton
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