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Mortgage Market Update
Desiree Tyquiengco
Desiree Tyquiengco
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to tackle a question I hear often: when is refinancing actually worth it? It's more nuanced than just looking at rates.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit of a lower payment or shorter loan term justifies the costs and time involved. Some borrowers benefit within months; others need years to break even. Your loan officer and I can walk through the math specific to your situation—comparing your current rate, remaining balance, new rate, and closing costs. It's different for everyone. If you've been curious whether refinancing could work for you, or if you've refinanced before and want to know if it's worth doing again, let's talk. We'll be honest about whether it makes sense. Reach out and I'll run the numbers 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 Desiree Tyquiengco team any time and we'll walk you through your options. |
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