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Mortgage Market Update
My Mortgage Company
John Hersperger
Wednesday, September 2, 2026
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Does it make sense to refinance right now? |
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Hi there. With rates always shifting, I hear a lot of questions about whether it's time to refinance. Let me share what I look at when I'm helping clients decide.
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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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Refinance Strategy
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 long-term savings justify closing costs and the time to process a new loan. If you're planning to stay in your home for several more years, a refi might pencil out. But if you're thinking of selling soon, those upfront costs might not be worth it. The same goes if your credit has improved since you bought—you may qualify for better terms now. I'd be happy to run the numbers with you and show you exactly what your break-even point would be. That way, you can make a decision based on your actual situation, not just on rate movement. Let's talk through whether refinancing fits your timeline and 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
John Hersperger
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