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Mortgage Market Update
My Mortgage Company
Brendan McKiernan
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. This week I want to walk you through one of the questions I hear most often from homeowners—and one that deserves a straight answer instead of a sales pitch.
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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 (and when it doesn't)
Refinancing isn't right for everyone, and timing matters. The basic idea is simple: you replace your current loan with a new one, ideally on better terms. That might mean a lower rate, a shorter timeline to pay off your home, or switching from an adjustable to a fixed rate for stability. But refinancing involves closing costs and a new application process, so it only pencils out if the benefit outweighs what you'll spend. I help borrowers run the real numbers—not just "rates are lower" but whether you'll actually come out ahead given how long you plan to stay in your home. Every situation is different, and that's why it's worth a real conversation instead of guessing. Let's talk through whether refinancing could work for your situation—there's no obligation, just clarity.
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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
Brendan McKiernan
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