Mortgage Market Update

My Mortgage Company

Mpire Paid Workflows

Wednesday, September 2, 2026

Does refinancing pencil out for you?

Hi there—this week I want to cover a question I hear often: should I refinance? The answer depends on a few key factors that are unique to you.

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.

Refinance Strategy

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

Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term savings justify the upfront costs and time investment. If you're planning to stay in your home for several more years, refinancing could lower your monthly payment or shorten your loan term. But if you're thinking of selling or moving soon, those closing costs might never pay for themselves.

The best way to know is to run the numbers with someone who understands your specific situation—your current loan, how long you plan to stay, and what rates are available to you today. I'm here to walk through the math and help you decide if it's worth your time.

Let's talk through whether refinancing makes sense for your situation.

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

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