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Mortgage Market Update
My Mortgage Company
Future Home Loans
Wednesday, September 2, 2026
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Does your current loan still fit? |
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Hi there. This week I want to talk about something I see homeowners overlook: whether their existing mortgage is still the right fit.
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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 your loan terms work against you
Not all mortgages are created equal. If you've had your loan for several years, or if your financial situation has changed since you closed, it might be worth taking a fresh look at what you're actually paying for. Sometimes a simple refinance can lower your monthly payment, shorten your loan term, or remove mortgage insurance you no longer need. Other times, staying put makes the most sense. The only way to know is to run the numbers with someone who understands your complete picture — your current loan, your timeline, and your goals. I'm happy to walk through a no-pressure comparison so you can decide with confidence. Give me a call if you'd like to discuss whether a refinance 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
Future Home Loans
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