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Mortgage Market Update
My Mortgage Company
Jessica DeMott
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to touch on a question I hear often: should I refinance my home loan?
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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 right for everyone, but it can be a smart move if your circumstances have changed. Maybe your credit score has improved since you bought, or you'd like to shorten your loan term. Maybe you're carrying a higher rate than what's available now, or you want to tap into your home's equity for a major expense. The key is understanding your own goals—lower monthly payment, less time paying interest, or access to cash—and running the numbers to see if the benefits outweigh the costs involved. I'm here to walk you through the specifics of your situation and help you decide if it's worth exploring. Let's talk about whether refinancing could work 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
Jessica DeMott
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