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Mortgage Market Update
My Mortgage Company
StorBelow
Wednesday, September 2, 2026
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Is refinancing worth it for you right now? |
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Hi there. This week I want to tackle a question I hear a lot: when should you actually consider refinancing your mortgage?
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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 for your situation
Refinancing isn't a one-size-fits-all move, and it's not always the right choice. The real question isn't whether rates have moved—it's whether a new loan would actually improve your financial picture. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a major expense or consolidate debt. The catch is that refinancing costs money upfront, so it only pays off if you stay in your home long enough to recoup those costs through savings or other benefits. That timeline is different for everyone depending on your goals and how long you plan to keep your mortgage. I'd love to walk through your specific situation—your current loan, your timeline, and what you're hoping to accomplish. Let's talk about whether refinancing could actually work in your favor. Reach out and we can review whether a refinance makes sense for you.
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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
StorBelow
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