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Mortgage Market Update
My Mortgage Company
Lazaro Toledo
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Rates and life circumstances both change. Here's how to know if refinancing is worth your time.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the benefit outweighs the cost—and the time you plan to stay in your home matters a lot. I talk to homeowners all the time who refinance without running the numbers first, and sometimes they're surprised by how long it takes to break even. The good news is this isn't complicated. If you've got equity, decent credit, and you're curious whether a refinance could lower your payment or help you pay off your loan faster, it's worth a conversation. I can show you what the math looks like for your specific situation and help you decide if it makes sense. Let's talk through your options—no obligation.
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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
Lazaro Toledo
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