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Mortgage Market Update
Brent Tye
Brent Tye's Account
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 knowing when *not* to take action. This week, I want to break down when refinancing is worth the effort—and when it's better to leave things alone.
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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 look appealing. The real question is whether the long-term benefit outweighs your costs to refinance—things like appraisal fees, title work, and processing. Sometimes staying put is smarter, especially if you're close to paying off your loan or plan to move soon. But if you've built solid equity, improved your credit since you bought, or want to shorten your loan term, refinancing could put real money back in your pocket over time. The key is running the actual numbers for your specific situation, not just chasing rates. I'm happy to walk through whether it pencils out for you. Reach out and we can look at whether refinancing makes sense in your case.
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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 Brent Tye team any time and we'll walk you through your options. |
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