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Mortgage Market Update
My Mortgage Company
Jed Nielsen
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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Hi there. Each week I share what's on my mind about mortgages, money, and homeownership.
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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 Timing
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the cost to refinance—closing costs, appraisal, title work—will be recovered through your monthly savings before you plan to sell or move. If you're staying put for several years, the math often works in your favor. But if you're thinking short-term, those upfront costs can outweigh what you'd save. I help borrowers run this calculation honestly, without pressure to do a deal that doesn't serve them. The best refinance is one that genuinely improves your situation, not just your lender's commission. Let's talk through whether refinancing makes sense for your timeline and goals.
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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
Jed Nielsen
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