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Mortgage Market Update
My Mortgage Company
Tyson Letourneau
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to talk about one of the most common questions I hear: should I refinance? Let's break down when it actually pencils out.
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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 always the right move, even when rates drop or your situation changes. The real question is whether the benefits outweigh the costs and effort involved. Some borrowers refinance to lower their rate, others to shorten their loan term, reduce their payment, or tap equity for a major expense. But each scenario has trade-offs—closing costs, a new appraisal, time to process—that need to make financial sense for your specific goals. If you're curious whether refinancing could work for you, I'm happy to walk through the numbers and help you see the full picture. No obligation, just honest guidance. Reach out if you'd like to explore whether refinancing fits 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
Tyson Letourneau
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