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Mortgage Market Update
My Mortgage Company
Tom Stafford's Office Line/CRM
Wednesday, September 2, 2026
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Should you refinance? Here's how to know. |
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Hi there. This week I want to walk through a question I hear often: is now the right time to refinance?
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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 a refi makes sense (and when it doesn't)
Refinancing sounds simple in theory—replace your old loan with a new one at better terms. In practice, it only makes financial sense if the monthly savings or faster payoff outweigh the costs to close. The math depends on how long you plan to stay in your home, what your current rate is, and where rates are today. Sometimes the smartest move is to wait; sometimes it's to act now. I help borrowers run these numbers honestly, without the sales pitch. If you've been wondering whether refinancing is right for your situation, let's talk it through. I can show you what the real break-even point is for your loan. Reach out and we can explore whether refinancing fits your goals.
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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
Tom Stafford's Office Line/CRM
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