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Mortgage Market Update
My Mortgage Company
Shelly Molina
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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Not every homeowner benefits from refinancing, and that's okay. Let me walk you through the real factors that decide whether it makes sense 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 it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all decision, and it's not always about chasing the lowest rate. The real question is whether refinancing saves you money over the time you plan to stay in your home. Sometimes a rate drop justifies the closing costs and time involved. Other times, you might refinance to shorten your loan term, switch from adjustable to fixed, or tap into equity for a major expense. The math changes depending on your situation—how long you've owned the home, what you owe, your credit, and your plans for the future all matter. That's why it's worth having a conversation before you decide. If you're wondering whether refinancing could work for you, let's talk through your specific situation.
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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
Shelly Molina
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