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Mortgage Market Update
My Mortgage Company
Chris Butler
Thursday, September 17, 2026
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Should you refinance your mortgage right now? |
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Hi there. One of the questions I hear most often is whether it's the right time to refinance. The answer depends on your specific situation, not just what rates are doing.
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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 Basics
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether the new loan will save you money over the time you plan to stay in your home. Sometimes a lower rate on a longer loan actually costs you more in total interest. Other times, refinancing into a shorter term lets you build equity faster without drastically raising your payment. The best refinance candidates are borrowers who have built equity, kept their credit solid, and have a clear reason for the change. I always recommend running the real numbers before you apply: closing costs, new term length, and how long you'll own the house. That's where the answer lies. If you're wondering whether a refinance could work for your situation, reach out and we'll walk through the numbers together.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into 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
Chris Butler
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