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Mortgage Market Update
My Mortgage Company
Elle Zimmerman
Wednesday, September 2, 2026
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Should you refinance? Here's how to decide |
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Markets shift, life changes, and sometimes your mortgage needs a second look. This week I want to cover when refinancing 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 Basics
When refinancing makes sense
Refinancing isn't one-size-fits-all, and it's not always the right move. The key is understanding why you'd refinance in the first place. Some people do it to lower their monthly payment when rates drop. Others refinance to shorten their loan term, build equity faster, or tap into home equity for a major expense. Each path has different costs and benefits, which is why it pays to look at your specific situation before committing. If you've been wondering whether refinancing could work for you, I'd love to walk through the numbers and timing together. Let's talk about whether refinancing fits your goals right now.
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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
Elle Zimmerman
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