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Mortgage Market Update
My Mortgage Company
Paulo Maria
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Hi there — this week I want to tackle a question I hear pretty often: is now the right time to refinance? The answer depends on a few personal factors, so let's break it down.
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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 a refi makes sense (and when it doesn't)
Refinancing can be a smart move, but it's not right for everyone or every situation. The main appeal is usually a lower payment or shorter loan term — but to get there, you'll need enough equity, decent credit, and a rate environment that actually works in your favor. There are also closing costs to consider, which means you need to stay in the home long enough for the savings to add up. The math isn't always obvious, which is why it helps to run the numbers with someone who knows your specific loan and timeline. If you've been wondering whether refinancing could help your situation, I'm happy to walk through it with you — no pressure, just clarity. Reach out if you'd like to explore whether refinancing makes sense for your home and budget.
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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
Paulo Maria
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