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Mortgage Market Update
My Mortgage Company
Gregory Vassilatos
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there,
I get asked about refinancing fairly often, so this week I want to break down what it really means and when it's actually worth doing.
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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 a one-size-fits-all move, but it's worth understanding when it might work in your favor. 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 specific goal. The trade-off is that you'll restart the loan process—there are closing costs and a new timeline to consider. That's why it pays to run the numbers: sometimes the monthly savings take months or years to offset those upfront costs. Other times, the math is clearly in your favor from day one. I'm happy to walk through your specific loan and see whether refinancing could actually benefit you. Reach out if you'd like to explore whether refinancing fits your goals.
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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
Gregory Vassilatos
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