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Mortgage Market Update
My Mortgage Company
Nebil Mathewos
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there — this week I want to walk through one of the most common questions I hear from homeowners.
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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 does it make sense to refinance?
Refinancing isn't a one-size-fits-all move — it works for some borrowers and not others, depending on your situation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a larger project. The trade-off is that refinancing costs time and money upfront, so it only makes sense if the benefit outweighs those costs. I help borrowers run the math to see if it's worth it for them. If you've been in your home for a while, rates have moved, or your credit has improved, it might be worth a conversation. Let's talk through whether refinancing could work in your favor. Reach out and we can review your current loan to see if refinancing makes sense.
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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
Nebil Mathewos
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