Mortgage Market Update

My Mortgage Company

Seth Domnarski

Wednesday, September 2, 2026

Does refinancing make sense right now?

Hi there. This week I want to cover one of the most common questions I hear — when should you actually consider refinancing your mortgage?

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

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.

Refinancing Basics

When refinancing makes sense

Refinancing isn't just about chasing lower rates — sometimes it's the right move for other reasons. Maybe you want to shorten your loan term, switch from an adjustable to a fixed rate, tap your home's equity for a major project, or simply consolidate debt. Each situation is different, and the math changes depending on how long you plan to stay in your home and what today's rates and terms look like compared to your current loan.

If you've been wondering whether refinancing could work for you, I'm happy to run the numbers and show you what the real impact would be on your monthly payment and long-term costs. There's no obligation — just honest guidance based on your specific circumstances.

Give me a call or send a message, and we can talk through whether refinancing fits your goals.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Seth Domnarski

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