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Mortgage Market Update
My Mortgage Company
John Kupcik
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to cover something a lot of homeowners ask about — refinancing, and how to know if it's 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 a rate drop might make sense
If you've owned your home for a while, you've probably wondered whether refinancing makes financial sense. The truth is, it depends on a few personal factors — how long you plan to stay, what your current rate is, and what new rates are doing. A refinance can lower your monthly payment or help you pay off your loan faster, but it does come with closing costs and a new timeline. The key is doing the math on your specific situation rather than just chasing a lower number. I can walk you through whether a refinance pencils out for you, and what your real monthly savings might look like after all costs are factored in. Let's talk through whether refinancing makes sense for your situation.
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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
John Kupcik
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