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Mortgage Market Update
My Mortgage Company
Solymar Gonzalez
Wednesday, September 2, 2026
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Does a refinance pencil out for you? |
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Rates shift, life changes, and sometimes your loan terms can too. This week I'm breaking down how to know if refinancing is worth your while.
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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 refinancing makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates shift. The real question is whether the monthly savings (or other benefits like switching loan terms) justify the closing costs and time involved. Some borrowers come out ahead in months. Others take years to break even. Your timeline matters: if you're staying in the home long enough for the math to work, refinancing can free up cash or help you pay off the loan faster. I'd rather walk you through the actual numbers for your loan than guess. If you've been curious whether now is your moment, let's talk through what makes sense for where you are. Reach out, and we can run the numbers together.
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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
Solymar Gonzalez
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