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Mortgage Market Update
My Mortgage Company
Wayne Lacy
Wednesday, September 2, 2026
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Does refinancing fit your plan right now? |
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Hi there. This week I want to touch on a question I hear often: is now the time 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
A lot of homeowners wonder if refinancing is worth it. The short answer: it depends on your goals and timeline. Some people refinance to lower their monthly payment when rates drop. Others tap into home equity for cash or switch from an adjustable rate to a fixed one for peace of mind. The tricky part is weighing the costs of refinancing against what you'll actually save—that's where the real math happens. If you've been in your home a few years and rates have moved, or your financial picture has changed, it might be worth a conversation. I'm happy to walk through whether refinancing makes sense for you and what it would look like. Let's talk through your refinancing options—reach out whenever you're ready.
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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
Wayne Lacy
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