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Mortgage Market Update
Thomas Malinoski
Thomas Malinoski
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there,
One of the most common questions I hear is whether now's the right time to refinance. Let me help you figure it out.
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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 sounds simple on paper—swap your old loan for a new one—but the decision hinges on your specific situation. It can make sense if you're lowering your rate, shortening your term, or switching from adjustable to fixed. It rarely makes sense if you've already paid down most of your principal or if closing costs would eat up years of savings. The key is understanding your break-even point: how long you'd need to stay in the home before the savings outweigh what you'll pay upfront. I'm happy to walk through the math with you and show whether refinancing actually pencils out for your scenario. If you've been wondering whether refinancing is right for you, let's talk through the numbers.
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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 Thomas Malinoski team any time and we'll walk you through your options. |
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