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Mortgage Market Update
My Mortgage Company
Robert Gleich
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there,
I get asked about refinancing a lot, and it's usually because people are curious whether it could help them. Let me break down when it makes the most sense.
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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 does refinancing actually make sense?
Refinancing isn't always the right move—it depends on your situation, how long you plan to stay in your home, and where rates are heading. Some people refinance to lower their rate and monthly payment. Others do it to tap into home equity for a large expense, switch from an adjustable to a fixed rate, or change their loan term. The catch is that refinancing costs money upfront, so you want to make sure the long-term benefit outweighs those costs. If you're wondering whether it's worth exploring for your circumstances, I'm happy to walk you through the numbers and show you what refinancing could mean for your budget. Let's talk about whether refinancing fits your goals.
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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
Robert Gleich
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