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Mortgage Market Update
My Mortgage Company
Kimberly Silverman
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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A lot of homeowners hear about refinancing and wonder if they're missing an opportunity. Let me share what I look at when deciding if it's actually worth doing.
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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 drop or your situation changes. The real question isn't whether you can refinance—it's whether the benefits justify the costs and time involved. I often talk with homeowners who wonder if they should lock in a lower rate, shorten their loan term, or tap equity for a project. Each scenario is different. What works for your neighbor might not work for you. That's why it helps to sit down and run the numbers together—looking at how long you plan to stay in the home, what your actual monthly savings would be, and whether your current loan still serves your goals. If you're curious whether a refinance might be worth exploring, let's chat. Reach out if you'd like to explore whether 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
Kimberly Silverman
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