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Mortgage Market Update
My Mortgage Company
Gerardo Marin
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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Hi there — this week I want to walk you through one of the most common questions I get from homeowners.
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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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Smart Refinancing
When refinancing makes financial sense
Refinancing isn't right for everyone, but it can be a smart move if your situation has changed. Lower rates, a shorter loan term, moving from an adjustable to a fixed rate, or tapping equity for a major expense — these are all reasons homeowners refinance. The key is understanding your break-even point: how long it takes for your monthly savings to cover closing costs. If you're staying in your home long enough to reach that point, refinancing might be worth exploring. Every person's math is different, which is why it pays to run the numbers with someone who knows your full financial picture. Let's talk through whether refinancing could work for 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
Gerardo Marin
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