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Mortgage Market Update
Troy Shuler
Troy Shuler
Wednesday, September 2, 2026
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Should you refinance? Here's how to tell. |
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Hi there. This week I want to cover a question I hear often: when is the right time to refinance your mortgage?
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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
Refinancing isn't one-size-fits-all, and it's not always the right move. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or tap into home equity for a major expense. But refinancing also means closing costs and a new loan timeline, so it only pencils out if the benefit outweighs what you'll pay. Market conditions matter too — when rates move in your favor, refinancing becomes more attractive. The best way to know if it's worth exploring is to run the actual numbers for your home and situation. I'm here to walk through the math with you and answer any questions about whether it makes sense right now. Let's talk about whether refinancing could work for you.
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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 Troy Shuler team any time and we'll walk you through your options. |
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