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Mortgage Market Update
My Mortgage Company
Mckell Mendenhall
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi everyone—I wanted to take a step back this week and talk about one of the most common questions I hear: should I refinance? The answer is rarely simple, and it's worth getting right.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term savings justify the upfront costs and the reset of your loan timeline. If you're early in your mortgage, you might need rates to drop more than someone who's already built years of equity. And if you're planning to move or pay off your home soon, refinancing might not pencil out at all. That said, if you've improved your credit since you bought, or if your financial picture has changed in a positive way, refinancing could unlock better terms. The best way to know is to run the real numbers specific to your situation—not guesses or assumptions. I'm happy to walk through the math with you and show you whether a refi actually makes sense. Reach out if you'd like to explore whether refinancing could work for your situation.
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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
Mckell Mendenhall
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