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Mortgage Market Update
My Mortgage Company
Rich Hanlin
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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Hi there. One of the smartest moves a homeowner can make is knowing when to refinance — and when to hold steady.
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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 look attractive. The real question is whether the monthly savings outweigh the costs and time involved. If you're planning to stay in your home long enough to break even on closing costs, refinancing can lower your payment or shorten your loan term. But if you're thinking about selling in a few years, the math might not work in your favor. The best time to explore this is when rates have moved meaningfully from where you locked in, and your credit and income are solid. I can run the numbers with you — it takes just a few minutes to know if it's worth your while. Let's talk through whether refinancing fits your situation 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
Rich Hanlin
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