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Mortgage Market Update
My Mortgage Company
Tera Taylor
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Mortgage decisions rarely have a one-size-fits-all answer. This week, I want to help you think clearly about refinancing—when it's worth it and when it's better to wait.
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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. The real question is whether the monthly savings justify closing costs and the time it takes to break even. If you're planning to stay in your home for several more years, refinancing can absolutely work in your favor. But if you're thinking of selling or moving soon, the math might not work out. I've seen borrowers rush into a refi without running the full picture—and end up ahead of where they started. Let's talk through your timeline and goals. I can show you whether refinancing would actually save you money in your situation, not just in theory. If you've been wondering whether now is the right time to refinance, I'd be happy to walk through the numbers with you.
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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
Tera Taylor
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