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Mortgage Market Update
My Mortgage Company
Lending Pad
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Refinancing gets a lot of buzz, but it's not one-size-fits-all. Here's what you need to know before you decide.
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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 refinancing actually makes sense
Refinancing isn't always the right move — but sometimes it's worth a real conversation. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity for a major expense. Each situation is different, though. What works for your neighbor might not work for you, depending on how long you plan to stay in your home, current market conditions, and your personal financial goals. I always recommend doing the math before you commit. If you're wondering whether it might be worth exploring, I'm happy to walk through the numbers with you — no pressure, just clarity. Let's talk through whether refinancing could work for 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
Lending Pad
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