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Mortgage Market Update
My Mortgage Company
Jeffrey Dale Driggers
Wednesday, September 2, 2026
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Refinancing math: when is it worth it? |
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Hi there. Sometimes the smartest money moves aren't obvious—and refinancing is one of those decisions that deserves a closer look.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings you'd gain over time outweigh the costs to refinance—and how long you plan to stay in your home. If you're thinking about moving in a few years, refinancing might not pencil out. But if you're settling in, a rate reduction could free up cash each month or help you pay off your loan years earlier. The best way to know if it's worth exploring is a simple conversation about your timeline and goals. 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
Jeffrey Dale Driggers
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