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Mortgage Market Update
My Mortgage Company
Pacific Coast Mortgage Solutions
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there,
I've been getting questions about refinancing lately, so I wanted to share what actually matters when you're weighing that decision.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings on your monthly payment or total interest justify the cost to refinance—closing costs, appraisal, and time. Sometimes staying put makes more financial sense, especially if you're already a few years into your loan. The math changes depending on how long you plan to stay in your home, what your current rate and balance are, and where rates are headed. That's why it's worth having a real conversation before you decide. I can walk you through the numbers and show you whether refinancing pencils out for your specific situation. Let's talk through whether refinancing makes sense for you right now.
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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
Pacific Coast Mortgage Solutions
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