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Mortgage Market Update
My Mortgage Company
Future Mortgage (For Deletion)
Wednesday, September 2, 2026
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Does your mortgage still fit your life? |
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Hi there. This week I want to talk about one of the most common questions I get: whether it makes sense to refinance.
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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 makes sense for your situation
Refinancing isn't right for everyone, but it can be smart if your circumstances have changed. Maybe your credit score has improved since you bought, or you've built substantial equity and want to tap into it for a project. Sometimes a shorter loan term makes sense if you're further along in your mortgage. The key is understanding what you're trying to accomplish—whether that's lowering your monthly payment, paying off your loan faster, or accessing cash. I'm happy to walk you through the math on your specific loan to see whether refinancing could work in your favor. Reach out anytime—I can review your options with no pressure or 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
Future Mortgage (For Deletion)
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