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Mortgage Market Update
My Mortgage Company
Mortgage Biz
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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I get asked often about whether now is the time to refinance. The honest answer depends on your goals, timeline, and numbers—so let's walk through it together.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefit you'd gain over time outweighs the cost of refinancing itself. Sometimes it does—say, if you can lower your rate meaningfully and plan to stay in your home long enough to recoup closing costs. Other times, especially if you're already a few years into your loan or plan to move soon, refinancing might cost more than it saves. The best time to explore this is when you're curious and have time to think it through, not when you're feeling pressured. I'm happy to run the numbers with you and show you exactly what refinancing would look like for your specific situation, with no obligation. Reach out whenever you'd like to talk through whether refinancing could work for 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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My Mortgage Company
Mortgage Biz
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