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Mortgage Market Update
My Mortgage Company
Thomas Johannsen
Wednesday, September 2, 2026
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Should you refinance right now? |
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Hi there. This week I want to walk through one of the questions I hear most often from clients: whether it makes sense to refinance. The answer isn't always yes, even when rates move.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math has to work: you need enough equity, a long enough timeline to recoup closing costs, and rates that move meaningfully in your favor. Some borrowers stay in their current loan because they're happy with the payment or they plan to move within a few years. Others find that refinancing into a shorter term saves them thousands in interest over time. The right choice depends on your situation, not just what rates are doing. I'd love to run the numbers with you and show you whether refinancing could actually benefit your household. Let's talk through your options — I can show you the real impact on your bottom line.
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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
Thomas Johannsen
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