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Mortgage Market Update
My Mortgage Company
Heidi Hernandez
Wednesday, September 2, 2026
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Does refinancing make sense for your situation? |
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Hi there. This week I want to tackle a question I hear a lot: should I refinance? The answer isn't always yes—even when it seems tempting.
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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 drop or your situation changes. The real question is whether the long-term benefit outweighs the costs and time involved. If you're thinking about it, I'd look at: how long you plan to stay in your home, what your current rate and loan term are, and whether your credit has improved since you first borrowed. Sometimes a refinance pencils out beautifully. Other times, you're better off putting that energy and money toward paying down principal or tackling other financial goals. The best way to know which camp you're in is to run the numbers with someone who knows your full picture—not to sell you a new loan, but to give you honest perspective. Let's talk through whether refinancing makes sense for you 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
Heidi Hernandez
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