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Mortgage Market Update
My Mortgage Company
Michael Rosenblum
Wednesday, September 2, 2026
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Should you refinance? The honest answer |
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Hi there. This week I'm covering one of the most common questions I hear—and why the answer isn't always yes.
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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 actually makes sense
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question isn't whether you can refinance—it's whether the benefits outweigh the costs and how long you plan to stay in your home. Sometimes a lower rate saves you money over time. Other times, closing costs eat into those savings for years. And occasionally, your current loan is already working so well for you that switching does more harm than good. The best refinance decisions come down to your specific numbers and timeline, not just what rates are doing. I'd love to walk through your situation and help you figure out what actually makes sense for you. Let's talk about whether refinancing could work in your favor right now.
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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
Michael Rosenblum
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