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Mortgage Market Update
My Mortgage Company
Andrea Twyman's Account
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Rates and life circumstances change. This week I'm breaking down when refinancing might be worth considering—and when it might not be.
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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 makes sense for your situation
Refinancing isn't one-size-fits-all, and the right time depends on your goals, how long you plan to stay in your home, and where rates are relative to your current loan. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or tap equity for a major expense. The key is understanding what you're trying to accomplish and whether the costs involved make sense for your timeline. If you've been wondering whether it's worth looking into, I'd be happy to walk through the numbers and help you figure out if it pencils out for you. Let's talk about whether refinancing could work for your goals.
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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
Andrea Twyman's Account
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