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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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There's a lot of noise around refinancing, but the real question is whether it makes sense for you. Let's keep it simple.
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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 always the right move, but it's worth understanding when it could help. Some borrowers benefit from a lower rate, while others find value in shortening their loan term or switching from an adjustable to a fixed rate. The best reason to refinance is personal to your goals — whether that's lowering your payment, building equity faster, or gaining peace of mind with rate certainty. Before you decide, it helps to know what your current loan looks like and what's available to you now. I'm happy to walk through the pros and cons for your specific situation, no pressure or obligation. If you'd like to explore whether refinancing could work for you, let's talk.
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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
Colin Whitermore
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