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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Mortgage decisions don't always have obvious answers. Let me walk you through one that comes up a lot.
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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. The decision depends on how long you plan to stay in your home, your current loan terms, and the costs involved in refinancing. I always tell clients: a lower rate is only valuable if you keep the loan long enough to recoup the expenses. If you're thinking about moving within a few years, refinancing might not pencil out. But if you're settling in for the long haul and rates have shifted meaningfully, it's worth a conversation. We can run the numbers together and show you exactly what the break-even point looks like for your specific situation. Let's talk through whether refinancing fits your plans.
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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
Nick Mastropietro
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