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Mortgage Market Update
My Mortgage Company
David Martel Powered By Barrett Financial Group
Wednesday, September 2, 2026
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Refinancing isn't for everyone—here's why |
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A lot of homeowners ask me whether they should refinance, but the honest answer is: it depends. Let me break down what actually moves the needle.
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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 isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, your current loan balance, and what closing costs would be. If you're thinking about selling or moving within a few years, refinancing might cost you more than you save. But if you're settling in for the long haul and your situation has shifted—your credit improved, rates fell, or you want to shorten your loan term—it could be worth exploring. I can walk through the numbers with you and show you exactly what the payoff timeline looks like so there's no guesswork. Let's talk through whether refinancing makes sense 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
David Martel Powered By Barrett Financial Group
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