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Mortgage Market Update
April Brock
April Brock
Wednesday, September 2, 2026
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Should you refinance your mortgage? |
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Hi there,
This week I'm looking at one of the most common questions I hear from existing homeowners.
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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 for your situation
A lot of homeowners wonder if they should refinance, but the answer really depends on your specific circumstances. Refinancing can make sense if your financial situation has improved, if you're looking to shorten your loan term, or if you want to tap into your home's equity for a major project. On the flip side, it's not always the right move—closing costs matter, and the math needs to work in your favor over time. I always recommend looking at the long-term picture rather than chasing short-term rate moves. If you're curious whether refinancing could benefit you, I'd love to walk through your options and see what might work. Let's talk about whether refinancing fits your goals right now.
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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 April Brock team any time and we'll walk you through your options. |
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