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Mortgage Market Update
My Mortgage Company
Whit Bates
Wednesday, September 2, 2026
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Does refinancing pay off for you? |
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Hi there. Rate movements can be tempting, but they're not always a signal to refinance. Here's how to decide.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and your current loan terms. Sometimes a rate drop of half a point isn't enough to justify the expense. Other times, refinancing from a 30-year loan into a 15-year loan can build equity faster, even if your payment goes up slightly. The key is looking at the full picture—not just the rate itself. I can run the numbers with you to see whether refinancing would actually put you ahead, or if you're better off staying put. Let's talk through whether refinancing makes 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
Whit Bates
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