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Mortgage Market Update
My Mortgage Company
Sean Fretwell
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. Interest rates and your personal finances are both always moving. This week I want to cover a question I hear often—and one worth revisiting if your life has changed since you got your loan.
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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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Refinance Readiness
When does refinancing actually make sense?
Refinancing isn't one-size-fits-all. Some people benefit from a lower rate or a shorter loan term. Others use it to tap equity for home improvements or debt consolidation. The catch: there are costs involved, and you'll want to make sure the math works in your favor before you move forward. The best time to explore refinancing is when your situation changes—a big improvement in your credit score, a significant drop in rates, or a new financial goal. I can walk you through whether it pencils out for you and what your actual options look like. Let's talk if you're wondering whether it's worth a closer look. Reach out if you'd like to discuss whether refinancing fits your plan.
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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
Sean Fretwell
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