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Mortgage Market Update
Egan O'Brien
Wednesday, September 2, 2026
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Is refinancing worth a closer look right now? |
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Hi there—this week I want to cover a topic that comes up a lot: when and why homeowners choose to refinance. Whether you're just curious or seriously considering it, here's what you should know.
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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 decision really comes down to your personal goals—whether you want to lower your monthly payment, shorten your loan term, tap into equity for a large expense, or lock in a better rate. Some borrowers benefit right away; others find the timing isn't right yet. What matters most is understanding your own numbers and circumstances. If you've been curious about whether refinancing could work for you, I'd love to walk through the basics and help you think it through. There's no pressure—just clarity. Reach out anytime if you'd like to explore whether refinancing could fit your plans.
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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 Egan O'Brien team any time and we'll walk you through your options. |
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