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Mortgage Market Update
My Mortgage Company
Xpert Home Lending
Wednesday, September 2, 2026
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Should you refinance? Let's do the math |
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When rates move or your financial picture changes, refinancing can be tempting. But the best decision starts with a clear picture of what it actually costs and saves.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't automatically the right move just because rates shift or time passes. The real question is whether the math works for your situation. You'll want to think about how long you plan to stay in your home, what your current loan costs, and whether a lower rate would actually save you money after closing costs. Sometimes staying put is the smarter choice. That's why I always encourage people to run the numbers together—it takes the guesswork out of a big decision and keeps you from making a move that doesn't align with your goals. Let's talk through whether refinancing makes sense for you right now.
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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
Xpert Home Lending
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