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Mortgage Market Update
My Mortgage Company
Ron Gardiner
Wednesday, September 2, 2026
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Should you refinance? Let's find out. |
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Hi there. This week I want to talk about one of the most common questions I hear: when is refinancing actually a smart move?
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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 refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the savings you'll earn over time outweigh what you'll pay to close a new loan. Sometimes staying put is smarter than starting over. A few reasons people refinance: locking in a lower rate, shortening their loan term, switching from adjustable to fixed, or tapping equity for a major expense. But there are costs involved, and it takes time to recoup them. That's why it's worth sitting down and running the actual numbers—not just assuming a refi is worth doing. I'm happy to walk through the math with you and help you see what makes sense for your specific situation. Reach out anytime you're curious whether refinancing could work for you.
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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
Ron Gardiner
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