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Mortgage Market Update
My Mortgage Company
Jeremy Marks
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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Hi there—this week I want to talk about one of the most common questions I hear from homeowners: 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 Strategy
When refinancing makes sense for your wallet
Refinancing isn't always the right move—but it can be when the numbers work in your favor. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one for predictability. The catch is that refinancing comes with costs, so you want to make sure the benefit outweighs what you'll pay upfront. I help borrowers run the numbers to see if refinancing pencils out for their specific situation. Sometimes it does; sometimes staying put is smarter. Either way, knowing your options takes the guesswork out of the decision. If you're wondering whether refinancing could work for you, I'd be happy to walk through the details.
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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
Jeremy Marks
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