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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Wednesday, September 2, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to tackle a question I hear often: when should you actually refinance, and when should you hold tight?
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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 Strategy
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 monthly savings justify closing costs and the time to process a new loan. If you're planning to stay in your home for several more years, refinancing often pencils out. But if you're thinking about selling or moving within the next couple of years, those upfront costs might not pay for themselves. I work with borrowers to run the actual math on their situation—comparing their current loan to what a new one would look like, factoring in how long they plan to own the home. It's one conversation that can save you thousands in unnecessary fees. Let's sit down and talk through whether a refinance makes sense for your specific situation.
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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 Brandon Palmer team any time and we'll walk you through your options. |
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