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Mortgage Market Update
My Mortgage Company
Harris Nightingale (Old)
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Homeownership comes with decisions large and small. This week, I want to walk through one that comes up often: whether a refinance is worth pursuing.
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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 it's not always the right move. The core question is simple: will the new loan save you money over the time you plan to stay in your home? That means weighing your new rate and terms against what you're paying now, factoring in closing costs and how long you'll keep the loan. Sometimes refinancing makes sense to lower your rate or switch from adjustable to fixed. Other times—if you're selling soon or rates haven't moved much—it might not be worth the effort. The best way to know is to run the actual numbers on your specific situation, which is where I come in. Let's talk through whether refinancing could work for you.
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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
Harris Nightingale (Old)
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