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Mortgage Market Update
My Mortgage Company
Darryl Taylor
Wednesday, September 2, 2026
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Should you refinance? Let's talk through it |
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Hi there. This week I want to tackle a question I hear often: when does refinancing actually make sense? 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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The idea is simple: you replace your current mortgage with a new one, ideally on better terms. But "better" depends on your goals. 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. The catch is that refinancing comes with costs—application fees, appraisals, title work—so you want to make sure the benefit outweighs what you'll pay upfront. If you're wondering whether it could work for you, I'd love to walk through the numbers. Every situation is different, and there's no substitute for a real conversation about your goals and timeline. Reach out if you'd like to explore whether refinancing could help you right now.
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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
Darryl Taylor
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