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Mortgage Market Update
My Mortgage Company
Crafted Home Loans
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—this week I want to talk about one of the most common questions homeowners ask me: whether they should refinance.
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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 for you
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates drop. The real question is whether the savings you'd get outweigh what you'd pay to refinance. Some people lower their monthly payment, others shorten their loan term to build equity faster, and some cash out equity for home improvements or expenses. I help borrowers run the numbers so you can see the actual benefit before you commit. If you've been thinking about it but aren't sure it's worth the effort, that's exactly what I'm here to walk through with you. Let me help you figure out if refinancing makes financial sense 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
Crafted Home Loans
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