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Mortgage Market Update
My Mortgage Company
Power Lending
Wednesday, September 2, 2026
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Should you refinance? Let's do the math |
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Not every rate environment calls for a refinance. This week, I want to share how to tell the difference between a move that pays off and one that costs you money.
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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 isn't always the right move, even when rates drop or your financial picture improves. The real question is whether the benefit you'd gain — a lower payment, shorter loan term, or switching from adjustable to fixed — justifies the time and cost of the process. Some people refinance and break even in just a few months. Others never recoup their costs if they plan to sell or move soon. The smartest move is to run the numbers with someone who has no incentive to push you either direction. I'm happy to walk through your specific situation, no obligation, and help you decide if refinancing actually works in your favor right now. Let's talk through whether a refinance pencils out for you.
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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
Power Lending
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