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Mortgage Market Update
My Mortgage Company
Philip Ganz
Wednesday, September 2, 2026
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Should you refinance right now? |
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There's a lot of noise around refinancing, so I wanted to cut through it this week. Here's what actually matters when you're deciding whether to make a move.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term savings justify the costs and time involved. I look at a few things with every borrower: how long you plan to stay in your home, what your current rate and balance are, and what fees are involved in a new loan. Sometimes a refinance pays for itself in a couple of years. Other times, you're better off staying put. The math is personal — and worth working through before you apply. I'd be happy to run the numbers with you and show what refinancing would actually look like in your situation.
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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
Philip Ganz
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