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Mortgage Market Update
Freddy Baez
Freddy Baez
Thursday, August 27, 2026
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Should you refinance? Here's how to tell. |
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Homeownership is full of financial crossroads. This week, let's look at one that comes up often: refinancing.
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National Mortgage Rates · August 20, 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 always the right move, but there are a few situations where it's worth a closer look. If you've built equity, your credit has improved since you bought, or you're carrying a higher rate than today's market, you might benefit from a new loan. The goal is simple: lower your monthly payment, reduce the interest you'll pay over time, or access cash you need. Every situation is different, though. Sometimes the costs of refinancing outweigh the savings, especially if you plan to move soon. That's why it helps to run the real numbers with someone who knows your loan and timeline. I'm here to walk through the math with you and help you decide if refinancing makes sense right now. Let's talk about 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 Freddy Baez team any time and we'll walk you through your options. |
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