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Mortgage Market Update
Andrew King
Andrew King
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Sometimes the best financial move is doing nothing. Other times, it's worth a closer look.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your home gains value. The real question is whether the benefit outweighs the cost and time commitment. Some borrowers refinance to lower their rate and monthly payment. Others tap equity for a large expense or consolidate debt. But if you're planning to move in a few years, or your rate is already competitive, refinancing might not pay off. I help clients think through the math and their timeline so they make a decision that actually improves their situation—not just sounds good in theory. If you've been wondering whether it's worth exploring, I'm happy to walk through the numbers with you. Let's talk about whether refinancing could work 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 Andrew King team any time and we'll walk you through your options. |
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