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Mortgage Market Update
My Mortgage Company
Mpire Financial - For Deletion
Wednesday, September 2, 2026
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Should you refinance? Let's find out. |
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Refinancing can be a smart financial move—or it can cost you more than it saves. The difference comes down to understanding your own goals and doing the math.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates shift or your situation changes. The real question is whether the benefits—a lower payment, shorter loan term, or cash out for a major expense—outweigh the costs and time involved. If you've built equity in your home, you have options. Some people refinance to lock in better terms; others use it to access cash for home repairs or consolidating debt. But it pays to run the numbers first and think about your timeline. Are you planning to stay in the home long enough to recoup the costs? That's where a conversation with me comes in handy. I can walk you through whether it makes financial sense for your specific situation. Let's talk through whether refinancing could work for you.
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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
Mpire Financial - For Deletion
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