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Mortgage Market Update
My Mortgage Company
Kyle Albert
Wednesday, September 2, 2026
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Should you refinance? (spoiler: maybe not) |
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Hi there,
This week I want to talk about something I hear a lot: the urge to refinance whenever rates move. Here's what actually matters.
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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 Basics
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether your new loan costs will pay for themselves through lower monthly payments or a shorter loan term before you sell or move. That break-even point varies based on your situation—how long you plan to stay in your home, how much equity you have, and what closing costs look like for your scenario. I work through this math with borrowers all the time, and sometimes the answer is "wait." Sometimes it's "let's do it now." Either way, it's worth a conversation rather than a guess. If you're wondering whether refinancing makes sense for you, I'm happy to walk through the numbers.
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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
Kyle Albert
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