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Mortgage Market Update
My Mortgage Company
Donnie Schneider
Wednesday, September 2, 2026
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Should you refinance? Here's how to know. |
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Hi there—this week I want to tackle a question I hear pretty often from folks like you. Whether refinancing is worth it depends on your specific circumstances, and I'd like to help you figure that out.
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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 does refinancing actually make sense?
I talk to homeowners all the time who wonder if they should refinance. The truth is, it's not always the right move—but sometimes it absolutely is. The main things to consider are your current rate versus where rates are now, how long you plan to stay in your home, and what your costs would be to refinance. If rates have dropped meaningfully and you're planning to be there a while, the math often works in your favor. But if you're thinking of selling in a few years, those upfront costs might not pay back in time. Everyone's situation is different, and I'm happy to walk through the numbers with you—no obligation. It only takes a quick conversation to know if refinancing could benefit you. Let's talk about whether refinancing makes sense for your situation.
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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
Donnie Schneider
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