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Mortgage Market Update
My Mortgage Company
Jim Booher
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. I've had several questions lately about whether now is a good time to refinance. Let me walk you through how to think about 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 refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings will outweigh what you'll pay in closing costs and start-up fees. Some borrowers benefit in months; others need years for the math to work in their favor. It depends on your loan amount, how long you plan to stay in the home, and the gap between your current rate and what's available now. I always recommend we run the actual numbers together—no guesswork, no pressure. If refinancing could genuinely improve your situation, you'll see it clearly. If it doesn't make sense yet, I'll tell you that too. Let's run a quick refinance analysis and see what the numbers show.
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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
Jim Booher
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