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Mortgage Market Update
My Mortgage Company
Wes Eagles's Account (For Deletion)
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to talk about one of the most common questions I get: is now a good 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 Basics
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings you'd get over time outweigh the closing costs and time investment of applying. Some people benefit right away; others break even in a few years. The math depends on your loan balance, how long you plan to stay in the home, your credit profile, and current market conditions. That's why it helps to talk through the numbers with someone who can run the actual calculation for your situation—not a generic online calculator. If you've been curious whether refinancing could work for you, I'm happy to walk through what it would look like. Reach out anytime you'd like to explore whether refinancing makes sense for your home.
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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
Wes Eagles's Account (For Deletion)
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