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Mortgage Market Update
My Mortgage Company
Omar Brito
Wednesday, September 2, 2026
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Does refinancing make sense for your situation? |
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Hi there. This week I want to tackle a question I hear often: should I refinance my mortgage? The answer depends on your specific circumstances, so let's break it down.
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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 refinancing makes sense—and when it doesn't
Refinancing isn't a one-size-fits-all move, and I'd rather give you straight talk than oversell it. The idea is simple: you replace your current loan with a new one, usually to lower your rate, shorten your term, or switch loan types. But it only makes financial sense when the benefits outweigh the closing costs and the time you plan to stay in your home. If you're thinking about refinancing, the first step is understanding your current loan details and running the numbers together. There's no rush, and there's no shame in deciding it's not the right move for you right now. I'm here to walk through your situation and help you decide what actually works for your goals. If you're curious whether refinancing could work for you, I'd be happy to have a no-pressure conversation.
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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
Omar Brito
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