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Mortgage Market Update
My Mortgage Company
Luis Treto
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. With the mortgage market always shifting, I get asked regularly whether it's the right time to refinance. Let me share what I tell my clients.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefit outweighs the cost and time it takes to close a new loan. If you're planning to sell or move within a few years, refinancing might not pay for itself. But if you're staying put, have built equity, or your credit has improved since you first borrowed, it could be worth a conversation. I help borrowers run the actual numbers—not the sales pitch—so you can decide with confidence. If you're curious whether refinancing would benefit your specific loan, I'm happy to walk through your options without any pressure. Reach out anytime you'd like to explore whether refinancing makes sense for you.
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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
Luis Treto
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