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Mortgage Market Update
My Mortgage Company
Forrest Gump
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Not every borrower should refinance—and not every market is right for it. This week, let's talk about how to know if it's worth considering.
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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 shift. The real question is whether the long-term benefit outweighs what you'll pay to refinance. I talk to a lot of homeowners who are curious about refinancing but unsure if it pencils out for their situation. The answer depends on how long you plan to stay in your home, your current loan terms, and what rates look like today compared to your existing rate. Sometimes waiting makes more sense. Other times, refinancing can lower your monthly payment or help you build equity faster. There's no one-size-fits-all answer, which is why it's worth having a real conversation about your specific circumstances. If you've been wondering whether refinancing could work for you, let's look at the numbers together.
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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
Forrest Gump
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