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Mortgage Market Update
My Mortgage Company
Shawn Howard
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. Each week I share what's on my mind about mortgages and homeownership—things I think matter to you.
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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 makes sense for your situation
Refinancing isn't one-size-fits-all, but it's worth understanding when it could work in your favor. The most common reason people refinance is to lower their monthly payment or shorten their loan term when market conditions improve. But refinancing also lets you tap into home equity for major expenses, switch from an adjustable to a fixed rate for stability, or consolidate debt. The trade-off is that you're starting a new loan, so it takes time to recoup closing costs through savings. That's why timing and your personal goals matter more than any single rate movement. If you're wondering whether refinancing could benefit you right now, I'm happy to walk through the numbers specific to your loan and situation. Reach out if you'd like to explore whether refinancing might be a good fit for 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
Shawn Howard
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