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Mortgage Market Update
My Mortgage Company
Carlos Munoz
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Not every financial opportunity is right for every homeowner. This week, I want to help you think clearly about whether refinancing is worth considering in your 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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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing sounds like a big financial move, but it's really just replacing your current loan with a new one. People refinance for different reasons—some want to lower their monthly payment, others want to shorten their loan term or tap into home equity. The key is understanding what you're trying to accomplish. A lower rate might save you money over time, but closing costs matter too. That's why I always encourage folks to run the numbers before deciding. There's no one-size-fits-all answer, which is exactly why it pays to talk through your specific situation with someone who knows your loan inside and out. If you're curious whether refinancing could work for you, I'd be happy to walk through the details.
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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
Carlos Munoz
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