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Mortgage Market Update
My Mortgage Company
Brent Busch
Wednesday, September 2, 2026
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Does refinancing pencil out for you? |
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Rates move, and refinance mail piles up. But not every rate move calls for a new loan. Here's how to think about it clearly.
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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?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term savings justify closing costs and the time to process a new loan. Some borrowers benefit immediately; others need to stay put longer to break even. A few factors matter most: how long you plan to keep the home, your current loan balance, and how much your monthly payment would actually change. I can walk you through a simple payback timeline so you know exactly what makes financial sense for your situation, not just what sounds appealing on the surface. If you're curious whether refinancing pencils out for you, I'd be happy to run the numbers.
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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
Brent Busch
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