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Mortgage Market Update
My Mortgage Company
Jackson Murphy
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there—I hope you're having a good week. Today I want to talk about something that comes up a lot: when refinancing actually makes financial sense.
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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
When refinancing makes sense
Refinancing isn't always the right move, but it can be worth exploring if your situation has changed. Maybe rates have shifted enough to lower your payment, or perhaps you've built equity and want to tap into it for home improvements or debt consolidation. Sometimes it makes sense to shorten your loan term if you're in a position to pay more each month. The key is comparing the cost of refinancing against the real benefit you'd get—and that math is different for everyone. If you're wondering whether now is a good time for you, I'd be happy to walk through the numbers without any obligation. Reach out if you'd like to explore whether refinancing could work for your situation.
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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
Jackson Murphy
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