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Mortgage Market Update
My Mortgage Company
Patricia Nagler
Wednesday, September 2, 2026
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Should you consider refinancing right now? |
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Hi there. This week I want to talk about refinancing — what it is, why people do it, and how to know if it's worth considering for you.
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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 101
When does it make sense to refinance?
Refinancing isn't a one-size-fits-all move — it depends on your situation, how long you plan to stay in your home, and what rates look like compared to your current loan. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap into equity for home repairs or other goals. The key is understanding what you'd actually save after accounting for closing costs and how long you'd need to stay in the home to break even. Every borrower's math is different, and that's worth a real conversation. If you've been wondering whether now could be your moment, I'd love to walk through the numbers with you. Let's figure out if it pencils out for your goals. Give me a call or send a message — I can run through your specific situation in about 15 minutes.
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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
Patricia Nagler
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