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Mortgage Market Update
My Mortgage Company
Erika Ortiz
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance? Let me break down what actually matters in 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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Refinance Strategy
When refinancing actually makes sense
A lot of homeowners ask me whether they should refinance, and the answer really depends on your situation. If rates have moved favorably since you closed, or if your credit has improved, refinancing might lower your payment or shorten your loan term. But it's not automatic—closing costs matter, and you want to make sure the savings justify the process. The best time to explore it is when something in your financial picture has genuinely changed: a rate shift, a credit boost, or a long-term goal you're now ready to tackle. If you're wondering whether the numbers work in your favor right now, I'd be happy to walk through it with you. Let me know if you'd like to talk through whether a refinance could help 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
Erika Ortiz
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