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Mortgage Market Update
My Mortgage Company
Rebekah Manuel
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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A lot of homeowners wonder whether they should refinance, but the answer really depends on your unique situation. This week I want to share what actually matters when you're deciding.
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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 for your situation
Refinancing isn't a one-size-fits-all move, and the right time depends on your goals and where rates are heading. If you're looking to lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate, refinancing might be worth exploring. The key is understanding what you'd pay in closing costs versus what you'd save over time. Some people break even in a few years; for others it takes longer. That's why it helps to run the actual numbers for your specific loan and timeline before moving forward. I'm happy to walk through whether it makes sense for you. Let's talk through whether refinancing could work for your goals.
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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
Rebekah Manuel
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