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Mortgage Market Update
My Mortgage Company
Samuel Karengi
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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There's a lot of noise about refinancing, but the real question is whether it pencils out for your home and your timeline. This week I'm breaking down how to think about it.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't a one-size-fits-all move. The real question isn't whether rates have dropped—it's whether refinancing will actually save you money over the time you plan to stay in your home. Sometimes the closing costs and reset timeline mean you're better off holding your current loan. Other times, a refi can lower your payment, shorten your term, or help you tap equity for something that matters. The best way to know? Run the actual numbers on your specific situation. That's where I come in. I can show you the true cost and benefit so you're making a decision based on facts, not just headlines about rates moving. Let's run a quick refinance analysis together and see if it makes sense 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
Samuel Karengi
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