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Mortgage Market Update
My Mortgage Company
Joe Spears
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there — I wanted to touch base this week about a question I hear often from homeowners like 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 refinancing makes sense for your situation
A lot of homeowners wonder if refinancing is worth it, and the answer really depends on your specific numbers and goals. Some people refinance to lower their monthly payment, others to shorten their loan term or tap into equity for a major expense. The key is understanding what you're trying to accomplish and whether the costs involved align with your timeline. If you've owned your home for a few years, your credit situation has improved, or market conditions have shifted, it might be worth a conversation. I'm happy to walk through your options and show you what refinancing could look like for you — no obligation. Give me a call or send a message, and we can explore whether refinancing fits your plans.
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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
Joe Spears
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