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Mortgage Market Update
My Mortgage Company
Fernando Radillo
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Not every homeowner should refinance, even in a favorable market. Let me walk you through how to know if it's right for you.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings and other benefits outweigh the closing costs and time involved. Some borrowers break even in a few years; others never do. It depends on your loan balance, how long you plan to stay in your home, your current rate, and what's available to you now. That's why I always recommend running the actual numbers before you commit. There's no one-size-fits-all answer, but a clear-eyed conversation about your goals and timeline can show you whether refinancing is worth your effort. Let's talk through whether a refinance makes sense for your situation.
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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
Fernando Radillo
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