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Mortgage Market Update
My Mortgage Company
Elizabeth Cassidy
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 cover a question I hear often: when is the right time to refinance, and how do you know if 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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the savings over time justify the costs and effort involved. I help borrowers think this through by looking at how long they plan to stay in their home, what their current loan terms are, and what the new terms would be. Sometimes a refinance pencils out beautifully. Other times, staying put with your current mortgage is the smarter choice. There's no one-size-fits-all answer, which is why it pays to run the actual numbers for your specific situation before deciding. If you've been wondering whether refinancing could work for you, I'd like to take a look at your loan and walk through what makes sense. Let's talk through whether refinancing could be a fit 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
Elizabeth Cassidy
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