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Mortgage Market Update
My Mortgage Company
Eric Smart
Wednesday, September 2, 2026
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Should you refinance? Let's find out. |
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Sometimes the best financial move isn't obvious from the outside. This week I want to walk you through how to think about refinancing — and when it actually makes 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 Strategy
When it makes sense to refinance your mortgage
Refinancing isn't a one-size-fits-all move, and it's not always about chasing the lowest rate. Sometimes it makes sense to refinance to shorten your loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. Other times, the costs don't justify the benefit. The key is understanding your own situation: how long you plan to stay in the home, what your current rate and term are, and whether the math works for your goals. I help borrowers run these numbers all the time, and the answer is usually clearer than people think. If you've been wondering whether refinancing could work for you, let's talk through it together. Reach out and we can explore whether refinancing aligns with your plans.
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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
Eric Smart
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