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Mortgage Market Update
My Mortgage Company
Bryan Miller
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there,
This week I want to tackle a question I hear often, and the answer is more nuanced than you might think.
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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
When refinancing actually makes sense
A lot of people ask whether they should refinance, and the honest answer depends on your situation. It's not just about rates dropping—it's about whether the cost to refinance (closing costs, time, paperwork) will be outweighed by the savings you'll get over the time you plan to stay in your home. Sometimes a small rate improvement adds up. Sometimes it doesn't. What matters is doing the math on your specific loan, timeline, and goals. If you've been thinking about it, I can walk you through the numbers without any pressure. There's no one-size-fits-all answer, but there's a right answer for you. Let's talk through whether refinancing makes sense in 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
Bryan Miller
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