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Wednesday, September 2, 2026 |
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Mortgage Market Update
Should you refinance? Here's how to tell
Hi there. This week I want to tackle a question I hear a lot: Is now a good time to refinance? The answer isn't always yes, and I want to help you figure out what makes sense for your situation.
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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 (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and whether a new loan term actually serves your goals. Sometimes refinancing saves you real money over time. Other times, you're better off staying put and making extra principal payments instead. The key is running the numbers for your specific scenario—not just chasing a lower rate. I help borrowers think through this decision all the time, and I'm happy to walk you through what a refinance would actually look like for you, no pressure either way. Reach out if you'd like to talk through whether refinancing could work in your favor right now.
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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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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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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 Angela Cason team any time and we'll walk you through your options.
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22 Polly Drummond Hill Road, Newark DE 19711
3025987799
NMLS# 1384959 · Company NMLS# 128606
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