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Mortgage Market Update
My Mortgage Company
Simply Laundry
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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One of the most common questions I hear is whether now is a good time to refinance. The honest answer depends on your personal situation.
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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 isn't always the right move, even when rates look appealing. The real question is whether the long-term benefit outweighs the upfront costs and the time you plan to stay in your home. If you're thinking about it, I'd encourage you to run the numbers with someone who knows your situation—your loan term, current rate, how much longer you'll own the place, and what fees you'd actually owe. Sometimes a refi saves you thousands over time. Sometimes holding your current loan is smarter. There's no one-size-fits-all answer, which is exactly why it's worth a conversation. I'm here to walk through the math with you, no pressure. Let's talk about whether refinancing fits your goals.
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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
Simply Laundry
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