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Mortgage Market Update
My Mortgage Company
Stephanie Devlin
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Homeownership brings a lot of decisions, and one that comes up often is whether to refinance. This week I want to help you think through when it's actually 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 does refinancing actually make sense?
Refinancing sounds appealing when rates drop or when you want to tap into your home's equity, but it's not always the right move. The real question is whether your new loan saves you money after closing costs, or whether it gets you closer to a goal that matters—like paying off your mortgage sooner or freeing up monthly cash flow. Sometimes staying put is the smarter choice. I help clients run the actual numbers so we know whether refinancing moves you forward or just costs you money. If you've been wondering whether now is your moment, let's talk through your specific situation and see what the math says. Reach out and we can walk 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
Stephanie Devlin
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