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Mortgage Market Update
My Mortgage Company
Greg Lomba
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. Refinancing is one of the smartest tools available to homeowners—when it's the right tool. This week I'm breaking down when it actually makes financial sense.
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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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Smart Refinancing
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The idea is simple: replace your current loan with a new one on better terms. But "better" depends on your goals. Some people refinance to lower their monthly payment. Others want to shorten their loan term, build equity faster, or tap into home equity for a major expense. The catch is that refinancing comes with costs—appraisal, title work, and lender fees. So it only pencils out if the savings or benefits outweigh those costs over the time you plan to stay in your home. That's where a conversation with me makes sense. I can walk you through the numbers for your specific situation and help you decide if it's worth doing. Reach out and let's explore whether refinancing could work 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
Greg Lomba
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