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Mortgage Market Update
My Mortgage Company
Tom Ahles
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Homeowners often ask me about refinancing, but it's not always the right move. Let's talk about when it really pays off.
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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 it makes sense to refinance your mortgage
Refinancing isn't just about chasing lower rates—though that's often what catches people's attention. A refinance can make sense for other reasons too: shortening your loan term to build equity faster, switching from an adjustable rate to a fixed one for payment stability, or tapping your home's equity for a major expense. The tradeoff is closing costs and the time it takes to break even on those fees. I help borrowers run the real numbers to see if refinancing actually moves them closer to their goals. If you've been wondering whether it's worth a conversation, I'm happy to walk through your situation with no pressure. Reach out if you'd like to explore whether refinancing makes sense for you right now.
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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
Tom Ahles
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