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Mortgage Market Update
My Mortgage Company
Brad Payne
Wednesday, September 2, 2026
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Should you refinance? Let's find out |
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Some of you own homes and are wondering if now is the right time to make a move. This week I want to talk about refinancing—what it really means and when it might work in your favor.
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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 makes financial sense
Refinancing isn't right for everyone, but it can be a smart move if your situation has changed. Maybe rates have moved favorably, your credit has improved, or you want to adjust your loan term. The key is understanding what refinancing actually costs—closing costs, appraisal fees, and time—and weighing that against the benefit you'd gain. Sometimes the math works out beautifully. Sometimes it doesn't, and that's okay to know upfront. I can walk you through the numbers specific to your loan and help you figure out whether it makes sense for your household right now. If you're curious about your options, reach out and we can run the numbers together.
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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
Brad Payne
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