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Mortgage Market Update
My Mortgage Company
E Mortgage Capital
Wednesday, September 2, 2026
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Does refinancing work for your situation? |
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Hi there — I wanted to share some straight talk about refinancing this week. It's one of those tools that can really help, but only when it's the right move 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 Basics
When does refinancing actually make sense?
I get asked this a lot, and the answer really depends on your situation. Refinancing can help you lower your monthly payment, shorten your loan term, or switch from an adjustable rate to a fixed one. But it's not automatic — you'll want to think about how long you plan to stay in your home, what your current rate is, and whether closing costs make sense for your goals. The math works differently for everyone. If you've been in your home for a few years and your circumstances have changed — better credit, more income, or rates have moved — it might be worth exploring. I'm happy to run the numbers with you, no obligation. Let's talk through whether refinancing fits your plan.
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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
E Mortgage Capital
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