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Mortgage Market Update
My Mortgage Company
Kelly Cutter
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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I get asked often whether now is a good time to refinance. The honest answer is: it depends on your circumstances.
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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 does it make sense to refinance?
Refinancing isn't one-size-fits-all, and the right move depends on where you are in your loan and what your goals are. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or tap into home equity for a major expense. The key is understanding your break-even point—how long you'd need to stay in the home for the savings to outweigh the upfront costs. Market conditions matter, but so does your personal timeline. If you're thinking about a move in the next few years, refinancing might not pencil out. I'm happy to walk through the numbers specific to your situation and help you decide if it's worth exploring right now. Reach out and we can 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
Kelly Cutter
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