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Mortgage Market Update
My Mortgage Company
William Duran- For Deletion
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. This week I want to talk about refinancing—specifically, how to know if it's worth doing.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the savings over time outweigh your closing costs 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 settled in and rates have shifted meaningfully, it could free up monthly cash flow or shorten your loan term. The best approach is to run the actual numbers for your specific situation—not just chase the headline rate you see advertised. That's where I come in. Let me show you whether refinancing works for your goals. Reach out and I'll walk you through the numbers to see if refinancing fits your plan.
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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
William Duran- For Deletion
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