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Mortgage Market Update
My Mortgage Company
Stephen Tyler
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. I wanted to share some straightforward thinking about refinancing—something I hear about often but isn't always well understood.
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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 actually makes sense
I talk with homeowners regularly who wonder if they should refinance. The honest answer is: it depends on your situation. Refinancing can make sense if your goals have shifted—maybe you want to shorten your loan term, switch from adjustable to fixed rates, or tap into equity for a major expense. The catch is that refinancing comes with costs, so you'll want to think through how long you plan to stay in your home and whether the potential benefits outweigh those upfront expenses. There's no one-size-fits-all answer, which is exactly why it's worth a conversation. I'm happy to walk through your numbers and help you figure out if it's the right move for you. Let's talk through 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
Stephen Tyler
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