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Mortgage Market Update
My Mortgage Company
Clover Dowdy
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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One of the questions I hear most is whether homeowners should refinance. The answer isn't always yes, even when rates look attractive.
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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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Refinance Strategy
When refinancing actually pays off
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, your current loan terms, and what you'd pay in closing costs to make the switch. Sometimes a lower rate takes months or even years to recover those upfront expenses—and if you're planning to move or pay off the loan sooner, refinancing might work against you. The key is running real numbers on your specific situation rather than chasing every rate dip. I can walk you through whether refinancing makes sense for you right now, and if it does, what program might fit best. Let's talk through your refinance options and see if the numbers work in your favor.
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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
Clover Dowdy
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