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Mortgage Market Update
My Mortgage Company
Miguel Morales
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell |
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Interest rates and your personal finances don't stay frozen in time. Sometimes that's a signal to explore a refinance.
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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 sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether the benefits of a new loan outweigh the costs and time it takes to close. Some borrowers refinance to lower their monthly payment, others to shorten their loan term or switch from an adjustable rate to a fixed one. Your break-even point—how long it takes for savings to cover closing costs—matters more than chasing rates alone. Even small changes in your financial picture, your credit, or market conditions can shift whether refinancing pencils out for you personally. If you're wondering whether refinancing could work for you, I'm happy to walk through your options.
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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
Miguel Morales
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