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Mortgage Market Update
My Mortgage Company
Lindsay Kinniburgh
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Every borrower's situation is different, and what works for one household might not work for another. This week I want to talk about refinancing and help you figure out if 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 refinancing makes sense for your situation
Refinancing isn't one-size-fits-all—it works best when your goals and the numbers align. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or escape an adjustable rate. The key is understanding what you're trying to accomplish and whether the benefits outweigh the costs involved. Interest rates, your current loan terms, how long you plan to stay in your home, and your credit profile all factor into whether it makes financial sense. If you've been thinking about refinancing but aren't sure where to start, I'm happy to walk through your specific situation and show you what your options look like. Reach out anytime—there's no obligation to explore what a refinance could do for you.
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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
Lindsay Kinniburgh
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