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Mortgage Market Update
My Mortgage Company
Rob Garcia
Wednesday, September 2, 2026
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Should you refinance? Let's look at your loan |
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Homeownership is an investment—and like any investment, it's smart to check in on it periodically. This week I want to talk about one of the most common questions I hear: refinancing.
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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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Smart Refinancing
When it makes sense to refinance your mortgage
Refinancing isn't always the right move, but it's worth reviewing your loan every couple of years. The main reason people refinance is to lower their monthly payment when rates drop—but there are other reasons too, like shortening your loan term, switching from adjustable to fixed rates, or tapping into home equity for a major expense. The catch is that refinancing has costs, so you want to make sure the benefit outweighs the price tag. That's where a honest conversation comes in. I can show you the real numbers on your situation and help you figure out if it pencils out for you. If you'd like to explore whether refinancing makes sense right now, I'm here to walk you through it.
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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
Rob Garcia
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