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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Wednesday, September 16, 2026
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Should you refinance your mortgage? |
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One of the most common questions I hear is whether now is the right time to refinance. The honest answer depends on your circumstances, not just market conditions.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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 101
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit you'd gain outweighs the cost and time involved. Some borrowers benefit from lower monthly payments or shorter loan terms. Others find that refinancing fees and closing costs don't justify the savings. And if you're planning to sell or move within a few years, refinancing may not pencil out at all. The best way to know is to run the numbers on your specific situation—how long you'll stay in the home, what your current rate and terms are, and what's available to you today. I'm happy to walk through the math with you and give you a straight answer about whether it makes sense for you. Let's talk about whether refinancing could work in your favor.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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
Robie Chapa's Team
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