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Mortgage Market Update
Hema Konki
Hema Konki
Thursday, August 20, 2026
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Does refinancing make sense for you right now? |
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A lot of homeowners wonder whether they should refinance, but the answer depends entirely on your plans and your numbers. Let me break down what actually matters.
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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 a refi makes sense—and when it doesn't
Refinancing isn't always the right move, even when rates look good. The real question is whether the monthly savings justify your closing costs and the time you'll stay in your home. I usually tell people to run the numbers: How much lower would your payment be, and how many months until you break even on what you paid to refinance? If you're planning to move or sell within a few years, it might not pencil out. But if you're staying put and the math works, refinancing can free up real cash each month or help you pay down your loan faster. The key is understanding your own situation—not just the headlines. If you'd like me to walk through the numbers for your specific scenario, I'm here to help.
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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 Hema Konki team any time and we'll walk you through your options. |
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