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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Wednesday, September 2, 2026
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Does refinancing make sense right now? |
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Hi there. Market conditions and your personal situation are always changing, so it's worth revisiting your mortgage strategy from time to time.
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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 always the right move, but when it is, it can meaningfully improve your finances. The main reasons people refinance are to lower their interest rate, shorten their loan term, or tap into home equity for a large expense. The catch: refinancing involves closing costs and a new loan application, so you want to make sure the benefit outweighs those upfront expenses. The break-even point depends on your specific numbers—how long you plan to stay in the home matters just as much as rate savings. I'd love to walk through whether refinancing could work for you and what the real numbers look like in your case. Let's talk through your refinancing options with no pressure or obligation.
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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 Joshua Switzer team any time and we'll walk you through your options. |
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