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Mortgage Market Update
My Mortgage Company
test test's Account
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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I get asked often whether it's time to refinance. The answer depends on your goals and your timeline—not just the rates.
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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 drop. The real question is whether the benefit outweighs your costs and how long you plan to stay in your home. If you've built equity, improved your credit, or your financial situation has changed, refinancing might lower your monthly payment or shorten your loan term. But there are closing costs and a new loan timeline to consider. I always recommend running the numbers first—comparing your current rate and terms against what's available now, factoring in how many years you'll likely keep the home. If you're curious whether it could work for you, I'm here to walk through the details without pressure. Let's talk through whether refinancing could benefit 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
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