Mortgage Market Update

My Mortgage Company

Matthew Rizzolo

Wednesday, September 2, 2026

Should you refinance? Here's how to decide.

Not every rate drop means you should refinance. This week, I'm breaking down how to know when it actually pencils out for you.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Refinancing Strategy

When refinancing makes sense (and when it doesn't)

Refinancing isn't always the right move, even when rates drop. The key is whether your savings over time outweigh the cost to refinance. This depends on how long you plan to stay in your home, your current loan terms, and how much you've already paid toward principal.

I talk to homeowners regularly who assume refinancing is free—it isn't. But for the right person at the right time, it can genuinely improve your financial picture. If you've been wondering whether it's worth exploring for your situation, I'd like to walk through the numbers with you.

Let's talk through whether refinancing makes sense for your specific circumstances.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Matthew Rizzolo

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