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Mortgage Market Update
My Mortgage Company
Patrick Brown
Wednesday, September 2, 2026
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Is refinancing worth it for you? |
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Interest rates move constantly, and whenever they shift, I get questions about refinancing. The truth is, the answer depends on your unique situation—not just the rate itself.
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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 a rate drop is worth the effort
Not every rate movement calls for action. Refinancing costs time and money upfront—closing costs, appraisal fees, paperwork—so it only makes sense if the long-term savings justify those expenses. The size of the rate drop, how long you plan to stay in your home, and your current loan balance all factor into whether refinancing makes financial sense for your situation. I help borrowers run these numbers so you can decide with confidence, not guesswork. If you've been on the fence about whether now is the right moment, let's talk through your specific numbers and see what the math actually shows. Reach out if you'd like me to walk through whether refinancing makes sense for you 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
Patrick Brown
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