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Mortgage Market Update
My Mortgage Company
Stephanie Summer
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 talk about refinancing—when it's worth considering and when it might not be.
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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 for your situation
A lot of homeowners wonder if they should refinance, but the answer really depends on your specific numbers and goals. Refinancing isn't always the right move—sometimes you're better off staying put. The main reasons people refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. Each one has tradeoffs, and it's worth running the math before you decide. If you're curious whether refinancing could work for you, I'm happy to walk through your situation and show you what the possibilities look like. No pressure—just honest numbers so you can make the call that's right for your family. Reach out anytime if you'd like to explore whether refinancing could help you reach your 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
Stephanie Summer
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