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Mortgage Market Update
My Mortgage Company
Transformation Home Loans
Wednesday, September 2, 2026
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Should you refinance right now? |
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Not every rate movement means you should refinance. This week, I'm sharing the one question that should guide your decision.
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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
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the new loan will save you money over the time you plan to stay in your home. That means looking at your new rate, the closing costs you'd pay, and how many months it takes for your monthly savings to cover those upfront expenses. Sometimes you break even in six months; sometimes it takes two years. If you're thinking about selling or moving within that window, refinancing might work against you. The best approach is to run the actual numbers for your specific situation—not just glance at a rate quote. If you're wondering whether a refinance pencils out for you, I'd be happy to walk through the math.
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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
Transformation Home Loans
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