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Mortgage Market Update
My Mortgage Company
Standard Mortgage
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to cover a topic that comes up often: when should you consider refinancing your mortgage?
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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 makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The decision depends on your goals—whether you're trying to lower your monthly payment, shorten your loan term, switch from an adjustable to a fixed rate, or tap into equity for a specific need. There are costs involved in refinancing, so it only makes sense if the long-term benefit outweighs those upfront expenses. The math changes depending on how long you plan to stay in your home and what rates look like compared to your current loan. I'm happy to walk through the numbers with you and help you figure out whether refinancing aligns with where you are financially. Reach out if you'd like to explore whether refinancing could work for you.
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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
Standard Mortgage
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