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Mortgage Market Update
Tony Recupero
Tony Recupero
Wednesday, September 2, 2026
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When refinancing actually pays off |
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Hi there — we're seeing some movement in the market this week, and I wanted to share something borrowers often get wrong about refinancing.
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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 a rate drop actually makes sense
Not every rate decrease is a reason to refinance. The real question is whether the monthly savings will outweigh the costs of a new loan — closing costs, appraisal fees, and the time it takes to break even. Sometimes a modest rate improvement doesn't pencil out financially. Other times, especially if rates move meaningfully lower or your situation has changed, refinancing can free up real money each month. The math is personal to your loan, timeline, and goals. That's why it helps to run the numbers with someone who can show you the full picture, not just the shiny rate quote. If you've been wondering whether now is the right time, I'd be happy to walk through what a refinance would actually cost and save you. Reach out and we can calculate whether refinancing makes sense for your 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 Tony Recupero team any time and we'll walk you through your options. |
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