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Mortgage Market Update
Max Lloyd
Max Lloyd
Wednesday, September 2, 2026
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Refinancing: when it actually pays off |
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Refinancing gets a lot of buzz, but it's not a one-size-fits-all answer. This week I'm breaking down how to figure out if it's the right move for 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 Strategy
Should you refinance? Here's how to decide.
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings outweigh your costs—and that depends on your situation. If you're planning to stay in your home for several years, a refinance might lower your payment or shorten your loan term. But if you're thinking of selling or moving soon, the closing costs may not make financial sense. I help borrowers run the numbers so you can make this decision with confidence, not guesswork.
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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 Max Lloyd team any time and we'll walk you through your options. |
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