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Mortgage Market Update
My Mortgage Company
Gonzalo Lopez
Wednesday, September 2, 2026
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When should you actually refinance? |
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Hi there—this week I want to tackle a question I hear pretty often: is it time to refinance? The answer depends on your specific circumstances, not just the headlines.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings and long-term benefits outweigh the costs and time involved. Sometimes staying put is smarter than switching. I talk to homeowners all the time who wonder if now is their moment—and often it comes down to how long you plan to stay in your home and what your current loan terms look like. There's no one-size-fits-all answer, which is why it helps to sit down and run the actual numbers. If you've been curious about whether refinancing could work for you, I'd love to walk through it together. 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
Gonzalo Lopez
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