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Mortgage Market Update
My Mortgage Company
Pacific Roots Lending Team
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Homeownership brings new choices every year. Sometimes the best move is staying put — and sometimes it's time to revisit your loan.
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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 does it make sense to refinance your mortgage?
Refinancing isn't always the right move, but it can be smart when your situation changes. Maybe rates have dropped enough to lower your payment, or you want to switch from a variable to a fixed rate for peace of mind. Some borrowers refinance to shorten their loan term and build equity faster, while others extend it to free up monthly cash flow. The key is weighing the costs of refinancing against what you'd save over time — and making sure the math actually works for your goals. I'm happy to run the numbers with you and see if it's worth exploring. Let's talk through whether refinancing makes sense for you right now.
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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
Pacific Roots Lending Team
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