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Mortgage Market Update
My Mortgage Company
Bret Bushman CRM
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 a lot: when is refinancing actually a smart move?
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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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Smart Refinancing
When refinancing makes sense (and when it doesn't)
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap equity for a major expense. But it also costs money upfront and takes time to close. The key is understanding your own numbers—how long you plan to stay in your home, what your current loan terms are, and what you'd owe to refinance. Some people see real savings within months; others need years to break even. There's no one-size-fits-all answer, which is exactly why it's worth having a real conversation about your specific goals. I'm here to walk through the math with you, no pressure. Let's talk through whether refinancing could work 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
Bret Bushman CRM
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