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Mortgage Market Update
My Mortgage Company
Linda Shinpaugh - Your Hometown Lender
Wednesday, September 2, 2026
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Thinking about refinancing? Here's what to consider |
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Hi there. Rates move, and so do life circumstances—sometimes a refi is smart, sometimes it's not worth it. Let's talk about when it actually pencils out.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. It makes the most sense when your monthly payment savings outweigh the closing costs you'd pay upfront—and when you plan to stay in your home long enough to recoup that investment. The break-even point varies depending on your loan amount, current rate, new rate, and local costs. Some people benefit in a few years; others need much longer. It's also worth considering whether you want to reset your loan term (which affects how much interest you pay over the life of the loan) or cash out equity for home repairs, education, or debt payoff. The math isn't always obvious, which is why I'm here to walk through it with you. Let's run the numbers together and see if refinancing could work 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
Linda Shinpaugh - Your Hometown Lender
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