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Mortgage Market Update
My Mortgage Company
Kevin Flannery
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. With rates shifting, refinancing questions come up a lot. Here's what I want you to know about deciding whether it's the right move for you.
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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 real question is whether your new loan will save you money over time—and that depends on how long you plan to stay in your home, what you owe now, and what the new terms would be. Sometimes a lower rate sounds great until you factor in closing costs and reset your loan timeline. Other times, pulling out equity through a cash-out refi can help with high-interest debt or home improvements, but it changes your payoff date and total interest paid. I walk borrowers through these trade-offs regularly, and the answer is always personal to your situation. If you've been wondering whether a refi could work for you, let's talk through the numbers together. Reach out anytime—there's no obligation to run through your refinance scenario.
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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
Kevin Flannery
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