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Mortgage Market Update
Ryan Hogate
Ryan Hogate
Wednesday, September 2, 2026
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Does a refinance make sense right now? |
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Hi there—I wanted to tackle a question I hear often: when is the right time to refinance? The answer isn't always obvious, so let me break it down 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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Refinance Readiness
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. Before you apply, it helps to know what actually changes for you. A refinance can lower your monthly payment, shorten your loan term, or switch you from an adjustable to a fixed rate—but it also resets your loan timeline and involves new closing costs. The math only works if your savings outweigh those costs over the time you plan to stay in your home. I find that borrowers who refinance thoughtfully—not just because rates moved—end up genuinely ahead. If you're wondering whether your situation might benefit, let's walk through the numbers together. There's no commitment in exploring it. Reach out if you'd like to talk through 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 Ryan Hogate team any time and we'll walk you through your options. |
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