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Mortgage Market Update
My Mortgage Company
Justin Hill
Wednesday, September 2, 2026
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Should you refinance? Let's do the math |
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Sometimes the smartest financial move isn't the most obvious one. This week, I want to talk through one of the biggest decisions homeowners face: refinancing.
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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 sounds simple: take out a new loan to pay off your old one. But the real question is whether it saves you money over time. The math depends on how long you plan to stay in your home, what your current rate is, and what rates look like today. Sometimes a lower rate doesn't pencil out if you're only keeping the house another year or two. Sometimes it does even if rates only drop a little. The best move is to run the numbers with someone who knows your specific situation. I'm happy to walk through the calculation and help you decide if it's worth exploring right now. Reach out if you'd like to discuss whether refinancing could work for your goals.
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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
Justin Hill
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