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Mortgage Market Update
My Mortgage Company
Lisa Meyer
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there. Some months bring a flurry of refinancing questions, and some don't. If you've been thinking about whether it's worth looking into, here's what I usually tell people.
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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. The key is understanding what you're trying to accomplish. Some people refinance to lower their rate and monthly payment. Others use it to tap equity for a major expense, consolidate debt, or shorten their loan term. Before you apply, ask yourself: will the monthly savings be worth the closing costs? How long do you plan to stay in the home? What's your reason for doing this now? There's no universal answer—it depends entirely on your situation. If you're wondering whether it makes sense for you, I'd love to walk through the numbers together and show you what refinancing could actually look like. Let's talk through whether refinancing fits your goals right now.
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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
Lisa Meyer
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