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Mortgage Market Update
My Mortgage Company
Michael Hulse
Wednesday, September 2, 2026
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Should you refinance? Here's what to consider |
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Hi there. This week I want to walk you through when refinancing makes sense—and when it might not.
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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 it make sense to refinance your mortgage?
Refinancing isn't one-size-fits-all, but there are a few solid reasons homeowners consider it. You might refinance to lower your monthly payment, shorten your loan term, switch from an adjustable rate to a fixed one, or tap your home's equity for a major expense. The key is understanding what you're trying to accomplish—and whether the costs involved make sense for your situation. If you've had a change in income, credit, or just want to explore your options, I'd be happy to walk through the numbers with you. Let's talk about whether refinancing could work for your home.
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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
Michael Hulse
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