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Mortgage Market Update
My Mortgage Company
Mark Rocha
Wednesday, September 2, 2026
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Thinking about refinancing your mortgage? |
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Hi there. I wanted to share some straightforward thoughts on refinancing, because it comes up often and there's a lot of confusion out there.
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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 does it make sense to refinance?
Refinancing isn't one-size-fits-all, and the right time depends on your specific situation. Some borrowers refinance to lower their interest rate and reduce monthly payments. Others refinance to access home equity for repairs, education, or debt consolidation. Still others refinance to shorten their loan term and build equity faster. The key is understanding your goal first, then running the numbers to see if refinancing aligns with how long you plan to stay in your home. I'd be happy to walk you through whether refinancing makes sense for you right now. Reach out if you'd like to explore your refinancing options—no 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
Mark Rocha
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