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Mortgage Market Update
My Mortgage Company
Ken Schmidt
Wednesday, September 2, 2026
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Should you be thinking about refinancing? |
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Markets shift, and sometimes borrowers wonder if now's the time to make a move. This week, I want to walk you through how to decide.
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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 refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates shift. The real question is whether the numbers work for you. Some borrowers benefit from a lower rate or shorter loan term; others are better off staying put. The key is looking at your timeline: if you plan to move or pay off your home soon, refinancing costs may outweigh any savings. I always recommend running the math on your specific loan, not just chasing headlines about rates. That's where a conversation with me helps—we can look at what refinancing would actually cost you and whether it pencils out. Let's talk through whether refinancing makes sense for your situation 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
Ken Schmidt
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