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Mortgage Market Update
My Mortgage Company
Eagle Star Mortgage Group
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there. Each week I share insights to help you make smarter decisions about your mortgage and home.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefit you'd gain outweighs the costs and time involved in closing a new loan. Maybe you're hoping to lower your payment, switch loan terms, or tap into equity—all valid reasons to take a closer look. But refinancing only works in your favor when the math pencils out for your specific goals and timeline. I'd be happy to walk you through what refinancing could mean for your situation, no pressure—just clarity. Let's talk through whether refinancing fits your goals 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
Eagle Star Mortgage Group
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