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Mortgage Market Update
My Mortgage Company
Barrett Processing
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Sometimes a fresh look at your mortgage can reveal a real opportunity. This week I want to cover when refinancing is worth considering—and when it probably isn't.
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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 it makes sense to refinance your mortgage
Refinancing isn't always the right move, but there are a few situations where it's worth exploring. If rates have dropped since you got your loan, or your credit has improved significantly, you might lower your monthly payment or shorten your loan term. Some borrowers refinance to tap into home equity for a large expense, or to switch from an adjustable rate to a fixed one for peace of mind. The key is weighing the benefits against closing costs and how long you plan to stay in your home. I'm happy to walk through your specific situation and show you whether refinancing could work in your favor. Let's talk about whether a refinance makes sense for you right now.
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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
Barrett Processing
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