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Mortgage Market Update
My Mortgage Company
Wally Simpson
Wednesday, September 2, 2026
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Should you refinance? Let's look at your numbers |
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Sometimes the smartest financial move is knowing when not to make one. This week, I want to walk you through how to think about refinancing so the decision feels clear and confident.
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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 actually makes sense
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'll owe upfront, and whether a lower payment actually saves you money over time. Some people refinance to shorten their loan term or switch from adjustable to fixed rates—that's different from chasing a lower payment alone. If you've been thinking about it, I'm happy to walk through your specific situation without pressure. There's no one-size-fits-all answer, but there's usually a clear answer for your home. Reach out if you'd like to talk through whether refinancing could work for you.
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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
Wally Simpson
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