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Mortgage Market Update
Eddie Gamez
Edge Home Finance LLC
Wednesday, September 2, 2026
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Is refinancing right for you right now? |
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Not every financial move is worth making, even if it's possible. This week I want to walk through how to think about refinancing the smart way.
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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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Smart Money
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question isn't whether you can refinance—it's whether the benefit outweighs the cost and time involved. I help borrowers run the actual math: How long do you plan to stay in the home? What are the closing costs? How much will your payment or term improve? Sometimes the answer is yes. Sometimes you're better off staying put and building equity as planned. The only way to know is to have an honest conversation about your specific goals and timeline.
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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 Eddie Gamez team any time and we'll walk you through your options. |
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915-706-0950
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