|
Mortgage Market Update
My Mortgage Company
All Western Mortgage
Wednesday, September 2, 2026
|
Should you refinance? Here's how to tell. |
|
Hi there, I get questions about refinancing every week—and most of the time, the answer depends on your unique situation. Let me break down what actually matters when you're weighing that decision.
|
|
National Mortgage Rates · August 27, 2026
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Smart Refinancing
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings over time outweigh the closing costs and how long you plan to stay in your home. If you're considering a refinance, I look at factors like your current loan term, how much equity you have, your credit profile, and your timeline. Sometimes a rate drop of a quarter point doesn't justify the process costs. Other times, it's a clear win. The best way to know is to run the actual numbers on your specific situation—not guesses, but real math. That's where I can help you see if it makes financial sense for you. If you're wondering whether now is the right time to refinance, let's talk through your options.
|
|
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.
|
|
Tips for Homeowners
Understanding Mortgage Points
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
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. |
|
Your Mortgage Advisor
|
|
|
My Mortgage Company
All Western Mortgage
|
|
|
|
You are receiving this from All Western Mortgage. Unsubscribe
|