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Mortgage Market Update
My Mortgage Company
TEAM MEDINA LLC
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Hi there. This week I'm walking through one of the most common questions I hear when rates shift—and the honest 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 Strategy
When a rate drop actually makes sense
Not every rate movement calls for a refinance. I know that sounds counterintuitive, but here's the reality: refinancing has costs—appraisals, title work, processing fees. Those expenses mean you need to stay in your home long enough for your monthly savings to make up the difference. A smaller rate drop might not be worth it if you're planning to move in a few years. The math changes based on your timeline and how much you owe. That's why I always walk through a real break-even calculation before anyone applies. If rates do shift meaningfully, it's worth a quick conversation to see if your situation makes sense for a refi—or if waiting is smarter. Let's run the numbers on your specific situation if rates move.
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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
TEAM MEDINA LLC
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