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Mortgage Market Update
My Mortgage Company
Sean Ewbank
Wednesday, September 2, 2026
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Should you refinance? Let's look at the math. |
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Not every rate move calls for action. This week I want to help you think through when a refinance actually works in your favor.
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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 savings over time justify the closing costs and the reset of your loan term. If you're deep into your mortgage and rates drop significantly, it might make sense. But if you're already a few years in and rates are only slightly lower, you could end up paying more interest overall. I always recommend looking at the full picture: your current rate, how long you plan to stay in the home, and what new loan terms would actually cost. That's where we can sit down together and run the real numbers for your situation. Curious whether refinancing pencils out for you? Let's walk through it together.
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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
Sean Ewbank
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