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Mortgage Market Update
My Mortgage Company
Ryan Skerritt
Wednesday, September 2, 2026
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Should you refinance? Ask yourself this first. |
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Hi there. This week I want to talk about refinancing—not whether rates are low, but whether refinancing is actually the right move for your specific situation.
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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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Refinance Strategy
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 benefit you'll gain over time is worth the cost of refinancing itself. If you're planning to sell or move within a few years, refinancing might cost you more than you'd save. But if you're staying put, have built equity, and your credit situation has improved since you bought, refinancing could lower your monthly payment or help you pay off your home faster. The math is different for everyone. I'd rather help you think this through clearly than push you toward something that doesn't fit your actual situation. If you're wondering whether refinancing makes sense for you, let's run the numbers together—no obligation.
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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
Ryan Skerritt
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