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Mortgage Market Update
My Mortgage Company
Janice M Williams
Wednesday, September 2, 2026
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Should you refinance? Here's how to know |
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Not every opportunity to refinance is worth taking. This week I want to share what actually makes a refinance worthwhile—and how to spot it.
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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 a refinance actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings—or other benefits like a shorter loan term or lower risk—justify the time and cost to close a new loan. Some borrowers refinance to tap equity for a major expense, others to lock in certainty if rates have been volatile, and some simply want to pay off their home faster. The math changes depending on your situation. If you've been thinking about it but aren't sure whether it pencils out, that's exactly what I'm here to help you figure out. There's no obligation—just a conversation about what makes sense for your goals. Let's talk about whether refinancing fits your plan 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
Janice M Williams
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