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Mortgage Market Update
My Mortgage Company
Rowley Mesa
Wednesday, September 2, 2026
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Does it make sense to refinance your loan? |
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Hi there. I get asked about refinancing a lot, and it's usually because something has changed—rates, your credit, or your plans.
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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 shift. The key is whether the benefit outweighs your costs and how long you plan to stay in your home. If you're thinking about it, I walk borrowers through a simple question: will the monthly savings add up to more than what you'll pay in fees and closing costs? The timeline matters too. If you're planning to move or pay off your loan within a few years, refinancing might not pencil out. But if you're staying put and the numbers work, it can free up real cash or shorten your payoff schedule. I'd be happy to run the math with your specific situation—no obligation, just clarity. Let's talk through whether refinancing fits your goals right now.
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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
Rowley Mesa
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