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Mortgage Market Update
Tania Pomeroy
Barrett Financial Group
Wednesday, September 2, 2026
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Does refinancing make sense for you right now? |
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Sometimes the smartest move isn't to refinance at all. This week, I'm walking through how to tell the difference.
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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 isn't always the right move, even when rates look attractive. The real question is whether the savings you'd earn outweigh the closing costs and time you'd spend. If you're staying in your home for several more years, refinancing could lower your monthly payment or shorten your loan term. But if you're thinking about moving soon, the math might not work in your favor. There's also the question of your credit and finances today versus when you first borrowed. If your situation has improved, you may qualify for better terms. If it's gotten tougher, refinancing might still be possible, just at different rates. The best way to know is to run the numbers with me—no obligation, just clarity.
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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 Tania Pomeroy team any time and we'll walk you through your options. |
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2701 East Insight Way #150, Chandler, AZ 85286
+1 775-813-9676
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