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Mortgage Market Update
My Mortgage Company
Kelly Cuffe
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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I hear from a lot of homeowners who wonder if now is the right time to refinance. Let me break down what actually matters when making that decision.
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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 it makes sense to refinance your mortgage
Refinancing isn't right for everyone, but it can be a smart move when circumstances change. Maybe your credit has improved since you bought, or you've built enough equity to avoid mortgage insurance. Maybe you want to shorten your loan term, lock in stability, or tap into your home's value for a major expense. The key is understanding what you'd actually save — or spend — to make the switch. It takes a few minutes to run the numbers and see if refinancing pencils out for your situation. If you're curious whether refinancing could work for you, I'd be happy to walk through your options.
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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
Kelly Cuffe
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