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Mortgage Market Update
Kyle Cosky
Kyle Cosky
Wednesday, September 2, 2026
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Should you refinance? Here's how to know. |
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Hi there. This week I'm talking about refinancing—when it makes sense, and how to figure out if it's right for you.
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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 it makes sense to refinance your mortgage
Refinancing isn't one-size-fits-all, but it's worth considering when your situation changes. Maybe rates have moved in your favor, or you've built solid equity and want to tap into it for home improvements or debt consolidation. Sometimes it's about shortening your loan term, lowering your monthly payment, or switching from an adjustable rate to a fixed one for peace of mind. The key is doing the math—comparing what you'd save against closing costs and how long you plan to stay in your home. If you're wondering whether refinancing makes sense for your specific circumstances, I'd be happy to walk through the numbers with you. Reach out if you'd like to explore whether refinancing could work 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 Kyle Cosky team any time and we'll walk you through your options. |
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