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Mortgage Market Update
My Mortgage Company
Luke Morris
Wednesday, September 2, 2026
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Should you consider refinancing? |
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Hi there. Markets change, life happens, and sometimes your mortgage strategy needs to shift with it. This week I want to cover when refinancing actually pencils out—and when it might not be worth it.
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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 refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether a new loan would lower your costs or change your timeline in a way that matters to you. Some people refinance to shorten their loan term, others to tap into equity for a major expense, and some to adjust their rate when market conditions shift. The catch is that refinancing comes with its own costs—and those need to pencil out against what you'll save. That's where talking through the numbers with someone who knows your full picture makes all the difference. I'm happy to walk you through whether refinancing could work for you—just reach out and we can talk it through.
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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
Luke Morris
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