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Mortgage Market Update
My Mortgage Company
Camille Olson
Wednesday, September 2, 2026
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Should you refinance? Three questions to ask. |
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Hi there. This week I want to tackle a question I hear often: when is the right time to refinance? The answer depends entirely on your situation.
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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 does refinancing actually make sense?
Refinancing isn't always the right move — even when rates drop. The real question is whether the long-term savings justify the upfront costs and reset timeline on your loan. Some borrowers benefit from lower monthly payments; others care more about paying off their home sooner. A few simple questions can help clarify what matters most in your situation: Are you planning to stay in your home for several more years? Would a lower payment free up cash for other goals? How much longer do you want to carry a mortgage? There's no one-size-fits-all answer, which is why I always encourage people to run the numbers before deciding. I'm happy to walk through the details with you. Reach out if you'd like to explore whether refinancing could work for your goals.
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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
Camille Olson
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