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Mortgage Market Update
Alicia Kirby
Thursday, August 20, 2026
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Does refinancing pencil out for you? |
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Hi there—I wanted to touch base about a decision I see borrowers face pretty often. Here's what you should know before moving forward.
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National Mortgage Rates · August 13, 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 actually makes sense
Refinancing isn't always the right move—even when rates drop. The real question is whether the money you save on your monthly payment (or loan term) will outweigh what you pay in closing costs. That break-even point is different for everyone, depending on how long you plan to stay in your home, your current loan balance, and what you're trying to achieve. Some people refinance to lower their rate and payment. Others refinance to tap equity for a major expense, or to switch from a 30-year loan to a 15-year one. The math needs to work for your specific situation. I'm happy to walk through the numbers with you and show you what refinancing would actually cost versus what you'd save. Let's talk through whether a refinance makes sense for you right now.
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Tip of the Week
If your credit score is below 740, even small improvements before applying for a mortgage can save you thousands over the life of the loan.
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Tips for Homeowners
Weatherproofing Your Home Before Winter
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1.
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Clean your chimney if you have a fireplace. The National Fire Protection Association recommends annual inspection and cleaning to prevent chimney fires.
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2.
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Check attic insulation and ventilation before winter. Inadequate insulation leads to heat loss, higher energy bills, and ice dams on the roof that can cause significant damage.
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3.
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Inspect weatherstripping on all exterior doors. A simple dollar-bill test works: close the door on a bill — if you can pull it out easily, your weatherstripping needs replacing.
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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 Alicia Kirby team any time and we'll walk you through your options. |
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