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Mortgage Market Update
My Mortgage Company
Ken Osako
Wednesday, September 2, 2026
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Should you refinance? Let's find out. |
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Hi there—I'm sharing guidance on one of the questions I hear most often from homeowners. This week, we're talking about refinancing and how to know if it's the right call for you.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, and I want to help you think through it clearly. The real question isn't just whether rates have dropped—it's whether the long-term benefit outweighs the cost and time involved in closing a new loan. Some borrowers benefit from lower monthly payments or shorter loan terms. Others find that refinancing makes sense only if they plan to stay in the home long enough to break even on closing costs. And sometimes, the smartest choice is to keep your current loan and focus on paying down principal instead. The answer depends on your specific situation: how long you plan to stay, your current rate and term, and what rates and programs look like today. Let me know if you'd like to discuss your options—I'm happy to walk through the math with you.
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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
Ken Osako
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