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Mortgage Market Update
My Mortgage Company
Barrett Financial Group
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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Sometimes borrowers ask me if now is the time to refinance. The honest answer depends on your unique circumstances, not just what rates are doing.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs the costs and time involved. Some borrowers see monthly savings that take years to recoup, while others find a refinance pencils out within months. Your loan type, how long you plan to stay in your home, your credit profile, and current equity all play a role. I run through the math with clients regularly—sometimes the answer surprises them. If you've been wondering whether refinancing is worth exploring, I'd be happy to walk through your specific situation and show you what the numbers actually look like. Let's talk through whether a refinance makes sense for your goals.
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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 Financial Group
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