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Mortgage Market Update
My Mortgage Company
Brandon List
Wednesday, September 2, 2026
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Does it make sense to refinance your mortgage? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance?
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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 refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings justify closing costs and starting your loan over. Sometimes a rate improvement of half a percent or less won't pencil out for years. But if you're looking at a meaningful drop, have stable income, and plan to stay in your home long enough to recoup those costs, it could be worth a conversation. Every situation is different, which is why it helps to run the actual numbers with someone who knows your loan. I'm happy to walk through whether a refinance makes sense for you right now. Let's talk through your refinance 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
Brandon List
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