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Mortgage Market Update
My Mortgage Company
Juan Carlos Vila
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Refinancing can be a smart move, but only if it aligns with your timeline and goals. Let's talk about how to know whether it's worth it.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, how much you'd save on your monthly payment, and the closing costs involved. Sometimes a lower rate pencils out beautifully. Other times, you'd break even after five or seven years—and if you might move before then, it doesn't pay. I help borrowers work through these numbers honestly, without pressure. The goal is figuring out what actually works for your situation, not just chasing a lower number on paper. If you're wondering whether refinancing makes sense for you, I'd be happy to run the numbers and walk you through it.
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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
Juan Carlos Vila
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