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Mortgage Market Update
My Mortgage Company
Justin Greenberg
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. Refinancing isn't always the right move, even when rates change. Here's how to figure out if it's worth considering 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 Strategy
When refinancing makes sense (and when it doesn't)
A lot of homeowners wonder if they should refinance, especially when they hear about rate changes. The answer depends on your situation. If you've built equity, have good credit, and plan to stay in your home long enough to recoup closing costs, refinancing might lower your payment or shorten your loan term. But if you're planning to move soon or rates haven't shifted enough to justify the expense, it may not pencil out. I like to walk borrowers through the actual numbers—how long until you break even, what your new payment would be, whether you're refinancing to save money or access equity for a project. That clarity makes the decision easier. If you're curious whether refinancing could work for you, I'm happy to run the numbers with no obligation. Reach out if you'd like to explore whether a refi makes sense for your home and timeline.
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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
Justin Greenberg
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