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Mortgage Market Update
My Mortgage Company
The Raydiant Team- Edge Home Finance, LLC
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. Interest rates have been moving around lately, and that always prompts the question: is it time to refinance?
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings over time outweigh the costs of closing a new loan. If you're planning to stay in your home for several more years, refinancing can reduce your monthly payment or shorten your loan term. But if you're thinking about selling or moving soon, the math might not work in your favor. The key is running the numbers specific to your situation—your current loan balance, the new rate you'd qualify for, your timeline, and your goals. That's where I come in. I can walk you through whether refinancing makes sense for you right now. If you've been curious about whether refinancing could help, let's talk through your options.
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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
The Raydiant Team- Edge Home Finance, LLC
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