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Mortgage Market Update
My Mortgage Company
Joshua Hicks
Wednesday, September 2, 2026
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Should you think about refinancing? |
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Life changes, and sometimes your mortgage should too. Here's what homeowners should know before deciding whether to refinance.
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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 for your situation
Refinancing isn't right for everyone, but it's worth understanding when it might work in your favor. Some homeowners refinance to lower their monthly payment, others to shorten their loan term, and some to tap into home equity for a large expense. The key is knowing what you're trying to accomplish and whether the costs involved make sense for your timeline. If you're thinking about your mortgage differently than you were a few years ago—maybe your financial picture has changed, or rates have shifted—it's worth a conversation. I can walk through your options without any pressure or obligation. Reach out if you'd like to 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
Joshua Hicks
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