Mortgage Market Update

My Mortgage Company

Armando Mungioli

Wednesday, September 2, 2026

Should you think about refinancing your mortgage?

Hi there. I wanted to share some straightforward thinking about when refinancing actually makes sense for homeowners.

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 Basics

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

I get asked about refinancing all the time, and the answer usually depends on your personal situation. Refinancing can make sense if rates have moved favorably, if you want to shorten your loan term, or if you're looking to tap equity for a major expense. But it's not automatic—there are costs involved, and the math has to work for your timeline and goals.

The best way to know if it's worth exploring is to look at your current loan details and think about what you'd want to change. Then we can run some real numbers and see what your options look like. I'm happy to walk through the pros and cons with you, no obligation.

Give me a call or send a message if you'd like to talk through whether refinancing could work for you.

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

Armando Mungioli

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