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Mortgage Market Update
My Mortgage Company
Mike McBride
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there — I want to help you think through a decision that comes up more often than you might expect. Here's what you should know.
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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 Readiness
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 since you got your mortgage. Maybe your credit score has improved, your home has gained value, or the rate environment has shifted. The key is understanding what refinancing costs versus what you might save over time. Some people refinance to lower their monthly payment, others to shorten their loan term, and some to tap into home equity for a major expense. I'm happy to walk through whether it pencils out for you — no pressure, just an honest conversation about your options. Reach out if you'd like to explore whether refinancing could work in your favor.
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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
Mike McBride
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