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Mortgage Market Update
My Mortgage Company
Mark Monson
Wednesday, September 2, 2026
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When refinancing actually pays off |
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Hi there. I wanted to share something I get asked about a lot—and it's worth getting right.
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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 Strategy
When a rate drop is worth the paperwork
Not every rate movement means you should refinance. There's a real cost to closing a new loan—fees, inspections, title work—and it takes time to recoup those expenses through your lower monthly payment. I talk to homeowners all the time who wonder if it makes sense to refinance, and the honest answer depends on your timeline and how long you plan to stay in the home. If you're thinking about a move in a few years, the math might not work. But if you're staying put and rates have shifted meaningfully, it could be worth crunching the numbers together. I'm happy to run a quick comparison so you can see the real savings, if any, before you decide. Let's talk through whether refinancing makes sense for 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
Mark Monson
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