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Mortgage Market Update
Stephen Bellew
Stephen Bellew
Wednesday, September 2, 2026
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Should you refinance right now? |
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I get asked about refinancing almost every week—and my answer is always: it depends. Here's what really matters when you're weighing the decision.
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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 a refinance actually makes sense
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the monthly savings or new loan terms will pay for the cost of refinancing before you plan to move or pay off the home. I walk borrowers through this math all the time—sometimes the answer is yes, sometimes it's no. The key is looking at your specific situation: how long you'll stay in the home, what you'd pay upfront, and whether your credit or income has changed since you bought. If you've been wondering whether now is your moment, let's talk through the numbers together. Reach out and we can run the numbers on your scenario with no 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 Stephen Bellew team any time and we'll walk you through your options. |
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