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Mortgage Market Update
My Mortgage Company
Zenlo Lending
Wednesday, September 2, 2026
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Does your loan still fit your goals? |
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Hi there. This week I want to walk through a question I hear often: when should someone think about refinancing their mortgage?
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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 Readiness
When does it make sense to refinance?
Refinancing isn't a one-size-fits-all move—it really depends on your situation. Some borrowers benefit from lower rates, others from shortening their loan term or switching loan types. The catch is that refinancing involves costs, so the math has to work in your favor. A general rule: you want to stay in the home long enough for the savings to outweigh those upfront expenses. Market conditions matter too—when rates drop, refinancing becomes attractive; when they're high, it may not pencil out. The best time to explore it is when you have stability in your finances and a clear goal in mind, whether that's saving money each month or building equity faster. I'd be happy to run some scenarios for you and show what refinancing could look like if it's the right move. Let's talk through whether refinancing makes sense for your loan and timeline.
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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
Zenlo Lending
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