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Mortgage Market Update
My Mortgage Company
Edge Home Finance
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there—I'm sharing some thoughts this week on refinancing and when it actually makes sense. Whether you've been thinking about it or haven't considered it yet, this might help clarify the bigger picture.
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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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Refinance Basics
When refinancing makes sense for your situation
Refinancing isn't right for everyone, but it can be a smart move if your circumstances have changed. Maybe your credit score has improved since you bought, your home has gained value, or you're thinking about how long you plan to stay. The right time to refinance depends on your goals—whether you're looking to lower your monthly payment, shorten your loan term, or tap into equity for a big expense. I always tell people: refinancing isn't about chasing rates alone. It's about whether the benefits outweigh the costs of the process itself. If you're curious whether it might work for you, I'm happy to walk through your options and answer questions without any pressure. Let's talk through whether refinancing could work for your home and budget.
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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
Edge Home Finance
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