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Mortgage Market Update
My Mortgage Company
Jesseca Hendricks
Wednesday, September 2, 2026
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Should you lock in a refi this month? |
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Hi there. This week I want to talk about one of the questions I hear most often from homeowners like 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 Strategy
When a rate drop is worth the paperwork
I get asked a lot: how much do rates need to fall before I should refinance? The honest answer is, it depends on your situation—your loan balance, how long you plan to stay in your home, and what closing costs look like. Sometimes a small rate reduction makes sense; sometimes it doesn't. The math changes for each person. What I do know is that waiting for the "perfect" rate can cost you money, and refinancing isn't as complicated as it used to be. If you've been on the fence, it's worth a quick conversation to see if the numbers work in your favor right now. Let's run the numbers together—reach out and I'll show you what a refinance could mean for 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
Jesseca Hendricks
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