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Mortgage Market Update
Tony Tehfe
Tony Tehfe
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there. Sometimes the smartest financial move is staying put — and sometimes it's making a change. This week I'm breaking down when refinancing actually pencils out.
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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 Strategy
When refinancing makes sense (and when it doesn't)
A lot of homeowners wonder if they should refinance, but the answer isn't one-size-fits-all. Refinancing can lower your monthly payment, shorten your loan term, or help you tap equity for a major project — but it involves closing costs and a new application process. The math works best when you plan to stay in your home long enough to recoup those costs through your monthly savings. Your timeline, current rate, and what you'd use the money for all matter. If you've been in your home a few years and your situation has changed (better credit, significant equity, different financial goals), it might be worth exploring. I'm happy to run the numbers with you — no obligation — and show you exactly what refinancing would look like in your specific case. Let's talk through whether refinancing makes sense for your situation.
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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 Tony Tehfe team any time and we'll walk you through your options. |
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