Mortgage Market Update

My Mortgage Company

Tamara Kammo

Wednesday, September 2, 2026

Should you refinance your mortgage?

Hi there, I hope this week is off to a great start. I wanted to share some thoughts on a question I hear fairly often: is now a good time to refinance?

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Refinancing Basics

When refinancing makes sense (and when it doesn't)

Refinancing isn't right for everyone, and it's not right all the time. The main reason people refinance is to lower their monthly payment—either because rates have dropped or because they want to stretch the loan term. Some folks refinance to tap home equity for a major expense or to move from an adjustable rate to a fixed one.

Before you refinance, think about how long you plan to stay in your home. There are costs involved—appraisal, processing, title work—and it takes time to recoup those through savings. I can walk you through the math on your specific situation and help you figure out whether refinancing pencils out for you right now.

If you're curious whether refinancing could work in your favor, let's talk through your options.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Tamara Kammo

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