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Mortgage Market Update
My Mortgage Company
Steve Orloff
Wednesday, September 2, 2026
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Should you refinance? It depends. |
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Hi there,
I'm sharing some straightforward guidance this week on a question I hear often: when does refinancing actually pay off?
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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 refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. I talk to people who are curious whether it's time to refinance their mortgage, and the answer depends on a few personal factors: how long you plan to stay in your home, your current loan terms, and what your goals are—whether that's lowering your monthly payment, shortening your loan term, or accessing equity for a major project. The math isn't always obvious upfront, which is why it helps to run the numbers with someone who knows your situation. If you've been wondering whether a refinance could work for you, I'm happy to walk through what it would look like. Reach out anytime—I can help you figure out if refinancing is worth exploring 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
Steve Orloff
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