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Mortgage Market Update
My Mortgage Company
ash ketchum
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there, I hope you're having a good week. Today I want to talk about one of the most common questions I get from homeowners.
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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 right for everyone, and it's not something you should rush into. The real question is whether the benefit you'd gain—lower monthly payment, shorter loan term, or switching loan types—outweighs the costs and time involved. Sometimes a modest rate improvement doesn't pencil out. Other times, a refinance can genuinely free up cash flow or help you build equity faster. The answer depends on your specific situation: how long you plan to stay in your home, your current loan terms, and what you're trying to accomplish. That's why it's worth having a real conversation before committing to anything. If you're curious whether refinancing could work for you, I'm here to walk through the numbers without pressure.
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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
ash ketchum
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