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Mortgage Market Update
My Mortgage Company
Dallas Rutherford
Wednesday, September 2, 2026
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Your mortgage balance could unlock new options |
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Hi there. This week I want to focus on something homeowners often overlook when they're thinking about their loan.
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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 your loan balance matters more than the rate
A lot of borrowers focus on interest rates when they think about refinancing, but there's another number that deserves your attention: how much principal you still owe. If you've built equity in your home—especially if you've paid down a meaningful chunk of your mortgage—refinancing can work harder for you than you might expect. The loan balance affects how much you can borrow, what programs you qualify for, and how a refinance reshapes your financial picture over time. Even when rates aren't at historic lows, refinancing can make sense if your circumstances have changed: your credit has improved, you've paid down debt, or you want to adjust your loan term. The best move depends on your specific situation. I'd be happy to walk through what refinancing could look like for your home—no obligation.
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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
Dallas Rutherford
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