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Mortgage Market Update
My Mortgage Company
Edge Home Finance, LLC
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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I'm sharing a question I hear regularly from homeowners, and it deserves a thoughtful answer. Here's what you need to know before deciding.
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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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Refinance Strategy
When does it make sense to refinance?
I get asked this often, and the answer depends on your situation. If rates have dropped since you closed, or your credit has improved, refinancing might lower your payment or shorten your loan term. But there are costs involved—closing costs, appraisals, and time. The key is doing the math: how long do you plan to stay in your home? How much will you save each month? Will those monthly savings cover what you pay upfront? Sometimes the answer is yes; sometimes it's better to wait. Every borrower's timeline and goals are different, and that's exactly why it's worth a conversation. If you're curious whether refinancing could work for you, I'm happy to walk through the numbers and help you decide what makes sense. Let me know if you'd like to explore your refinance options—no obligation.
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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
Edge Home Finance, LLC
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