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Mortgage Market Update
My Mortgage Company
Teddy Pendergrass Capital Inc.
Wednesday, September 2, 2026
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Thinking about refinancing? Here's what matters |
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Hi there. This week I want to talk about refinancing—not whether you should do it, but how to know if it's actually the right move for you.
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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 a refinance actually makes sense
A lot of homeowners ask me whether they should refinance, and the answer isn't always yes—even when rates drop. A refinance makes the most sense when your savings on monthly payments outweigh the upfront costs over the time you plan to stay in your home. Sometimes a smaller rate improvement isn't worth resetting your loan term, especially if you're already several years in. The right move depends on your specific situation: how long you'll keep the house, what your current rate and balance are, and whether you're comfortable with closing costs. I'm happy to run the numbers and show you whether refinancing pencils out for you. Reach out anytime you'd like to explore whether refinancing could work for your situation.
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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
Teddy Pendergrass Capital Inc.
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