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Mortgage Market Update
My Mortgage Company
Humboldt Mortgage Company
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I'm breaking down one of the most common questions I hear: when is refinancing actually worth it?
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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 look attractive. The real question is whether the monthly savings justify the time and cost involved in the process. Some people benefit immediately; others need to stay in their home long enough for those savings to add up. I help clients run the numbers on their specific situation—comparing what they'd pay now versus what they'd save over time. If you've been thinking about it but aren't sure whether it pencils out, that's exactly what I'm here for. Let's talk through your scenario with real math, not guesswork. Reach out, and I'll walk you through whether refinancing makes sense for your loan and timeline.
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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
Humboldt Mortgage Company
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