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Mortgage Market Update
Reyna Villegas
Reyna Villegas
Wednesday, September 2, 2026
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Should you refinance? The real answer |
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Hi there. This week I want to address a question I hear often: when is the right time to refinance? The answer isn't always obvious, and there's more to it than just rates moving.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings you'd gain over time outweigh the costs to close a new loan. Some borrowers benefit from a lower rate or shorter term; others are better off staying put. The math depends on how long you plan to stay in your home, your current loan balance, and market conditions at any given moment. If you've been wondering whether it's worth exploring, I'd be happy to walk through the numbers with you and show you what refinancing could—or couldn't—do for your situation. Let's talk about whether refinancing makes sense for your home and finances.
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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 Reyna Villegas team any time and we'll walk you through your options. |
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