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Mortgage Market Update
My Mortgage Company
Peter Denning
Wednesday, September 2, 2026
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Should you refinance? A few things to know |
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I get asked about refinancing pretty regularly, and honestly, there's no one-size-fits-all answer. Let me walk you through how to think about it.
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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 it makes sense to refinance your mortgage
A lot of people ask me: should I refinance? The answer depends on your situation, but here are the main things to consider. If rates have moved meaningfully lower since you got your loan, refinancing might reduce your monthly payment or shorten your loan term. You'll also want to think about how long you plan to stay in your home—refinancing has costs, so you need enough time to recoup them. Your credit and income matter too; lenders will review your finances just like they did the first time around. The best move is different for everyone, which is why it's worth having a conversation about your specific goals. 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
Peter Denning
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