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Mortgage Market Update
My Mortgage Company
Dwayne Bull
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to tackle a question I hear a lot: when is the right time to 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 Strategy
When does refinancing actually make sense?
A lot of homeowners ask me if they should refinance, and the honest answer is: it depends on your situation. Refinancing makes the most sense when your financial picture has changed—maybe your credit has improved, your income is more stable, or you want to shorten your loan term. It can also be worth considering if market conditions shift in a way that affects your monthly budget or long-term goals. The key is looking at the full picture: how long you plan to stay in your home, what you'd pay in closing costs, and whether the benefit outweighs that expense. I'm happy to walk through the math with you and help you figure out if it's the right move. Let's talk about whether refinancing could work 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
Dwayne Bull
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