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Mortgage Market Update
Scott Webster
Scott Webster
Wednesday, September 2, 2026
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Refinancing might not be for everyone |
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Hello, I hope you're doing well. This week I want to clear up some common confusion around refinancing—because the right move depends entirely on your circumstances.
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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 a one-size-fits-all move. It can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only makes sense if the math works for your situation. The key is understanding your break-even point: how long it takes for the savings to outweigh closing costs. If you're planning to stay in your home long enough to reach that point, refinancing might be worth exploring. The wrong time to refinance is when you're just chasing a lower number without considering the full picture. I'd be happy to walk you through whether it makes sense for you right now. Let's talk about whether refinancing fits your goals.
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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 Scott Webster team any time and we'll walk you through your options. |
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