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Mortgage Market Update
My Mortgage Company
Alex Hernandez
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to talk about one of the smartest money moves you might not have considered yet: refinancing your mortgage.
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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 101
When refinancing makes sense for you
Refinancing means taking out a new loan to pay off your existing mortgage — and it can be smart when the numbers work in your favor. The most common reason is a rate drop, which can lower your monthly payment or help you pay off your home faster. But there are other reasons too: you might refinance to tap into home equity for a major expense, switch from an adjustable to a fixed rate for peace of mind, or consolidate debt. The catch is that refinancing has costs, so it only pays off if you plan to stay in your home long enough to recoup those expenses through savings. I'd love to run the numbers with you and see if it makes sense right now. Give me a call or send a message — I can walk you through whether refinancing could help your situation.
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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
Alex Hernandez
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