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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—I wanted to share some straight talk about refinancing this week. It can be a great tool, but only if the timing and math work in your favor.
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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 (and when it doesn't)
Refinancing can be a smart move, but it's not right for everyone or every situation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one. But refinancing also means closing costs and a new loan process, so it only pencils out if you plan to stay in your home long enough to recoup those expenses through savings. I always tell clients: run the math first. If you're curious whether refinancing could work for your specific situation—your rate, how long you might stay, what you might save—I'm happy to walk through it with you and show you what the numbers actually look like. Let me know if you'd like to explore whether refinancing makes sense for 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
Carlos Rivera
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