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Mortgage Market Update
My Mortgage Company
Shane Valente
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Some weeks I hear a lot of questions about whether now is the right time to refinance. I thought I'd walk through what actually matters when you're making that decision.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the benefits you'd gain—lower monthly payments, shorter loan term, or switching loan types—outweigh the costs involved. Every situation is different. Some borrowers find that refinancing makes perfect sense; others discover the math doesn't work for their timeline and goals. That's why it's worth sitting down with someone who can run the actual numbers for your specific loan and circumstances, rather than making a decision based on headlines alone. If you've been wondering whether refinancing deserves a closer look, I'd like to help you figure that out. Let's talk through whether refinancing could work for you.
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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
Shane Valente
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