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Mortgage Market Update
My Mortgage Company
Reagan Carter
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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I talk to homeowners every week who wonder if refinancing could work for them. Let's look at what actually makes it worth doing.
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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 a one-size-fits-all move, and I see borrowers pull the trigger for different reasons. Some refinance to lower their monthly payment when rates drop. Others tap into equity for a major expense or to consolidate debt. A few refinance to switch from an adjustable rate to a fixed rate for peace of mind. The key is understanding what you're trying to accomplish—and whether the costs involved make sense for your timeline. If you're thinking about refinancing, I'd love to sit down and walk through the numbers specific to your situation. It's a conversation worth having before you decide. Give me a call or send a note if you'd like to explore whether refinancing makes sense for you 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
Reagan Carter
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