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Mortgage Market Update
My Mortgage Company
TiE South Coast - Orange County
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I'm looking at one of the most common questions I hear: when does refinancing actually pay off?
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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 a refi actually makes sense
Refinancing sounds great in theory—lower payments, less interest paid over time. But it only works if the math checks out for your situation. A refi makes sense when you'll stay in the home long enough to recoup closing costs through your monthly savings, or when you're building equity faster and want to tap into it strategically. Sometimes it doesn't pencil out, and that's okay to know upfront. The worst outcome isn't saying no to a refi; it's doing one that costs more than it saves. I can walk you through your specific numbers—no obligation, just clarity. Let's see if refinancing is actually a smart move for you right now. Reach out and we'll run the numbers together.
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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
TiE South Coast - Orange County
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