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Mortgage Market Update
My Mortgage Company
Tia Peeks
Wednesday, September 2, 2026
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Should you refinance? Here's how to decide. |
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Hi there. This week I want to talk about one of the most common questions I get: whether it's worth 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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term savings justify the upfront costs and the time it takes to recoup them. If you're planning to stay in your home for several more years, refinancing could lower your monthly payment or shorten your loan term. But if you're thinking of selling soon, the math often doesn't work in your favor. I help clients run the numbers so you can make a decision based on your actual situation, not just what you see in the headlines. If you're wondering whether refinancing fits your plans, I'd be happy to walk through the details with 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
Tia Peeks
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