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Mortgage Market Update
My Mortgage Company
Lucy Thornton
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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Hi there. This week I want to tackle a question I hear often from homeowners.
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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 makes sense for you
A lot of homeowners wonder if refinancing is worth the effort. The honest answer: it depends on your situation. If rates have moved meaningfully lower since you locked in your loan, or if your credit has improved, refinancing might lower your monthly payment or shorten your timeline to owning your home free and clear. But there are costs involved—closing costs, appraisal fees, title work—so the math has to work in your favor. The best move is to run the numbers with someone who can look at your specific loan, timeline, and goals. That's where I come in. I can walk you through whether refinancing makes sense right now or if you're better off staying put. Let's talk through your refinancing options and see what 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
Lucy Thornton
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