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Mortgage Market Update
My Mortgage Company
Gabrielle Theoharis
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there—I hope this week finds you well. I wanted to tackle a question I hear pretty often from past clients and new friends alike.
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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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Refinance Strategy
When does refinancing actually make sense?
I talk to homeowners all the time who wonder if refinancing is worth it. The truth is, it depends on your situation—how long you plan to stay in your home, what your current loan terms are, and where rates stand relative to your rate. Some people break even in months; others it takes years. There's no one-size-fits-all answer, which is exactly why it's worth a conversation. I can walk through your numbers and help you figure out whether refinancing would genuinely benefit you, or if your money is better spent elsewhere right now. If you've been curious about refinancing, let's talk through whether it makes sense for your home.
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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
Gabrielle Theoharis
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