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Mortgage Market Update
My Mortgage Company
Shantian Simmons's Account
Wednesday, September 2, 2026
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Should you refinance? A simple question to ask |
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Hi there. Every homeowner's situation changes over time—and sometimes your mortgage can change too.
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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 staying put costs you money
I talk to homeowners all the time who are sitting on loans from years ago—and they don't realize how much their circumstances have changed. Maybe your credit has improved. Maybe rates have shifted. Maybe you've built equity faster than you expected. Any of these can open doors to better terms, lower payments, or shorter loan periods. The tricky part is knowing whether refinancing makes sense for *your* situation right now. It's not always the right move, but when it is, the savings can be real. If you've been in your home a few years or more, it's worth having a straightforward conversation about whether refinancing deserves a closer look. Reach out and let's talk through whether a refinance might work in your favor.
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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
Shantian Simmons's Account
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