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Mortgage Market Update
My Mortgage Company
Annika Harris
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to tackle a question I hear often: when is refinancing actually worth it?
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings over time justify the cost and effort of refinancing. If you're planning to stay in your home for several more years, a lower rate might pay off. But if you're thinking about moving or selling within a year or two, the math often doesn't work out. There's also your current loan balance, your credit profile, and how much equity you've built—all pieces that affect whether refinancing is worth your time. The best approach is to run the numbers with someone who knows your specific situation, not just chase the headlines about rate movement. Let's talk through whether refinancing makes sense for your goals—reach out anytime.
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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
Annika Harris
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