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Mortgage Market Update
Jessica Firmiano
Jessica Firmiano
Thursday, August 20, 2026
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Could refinancing work for you right now? |
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Hi there. This week I want to talk about something many homeowners overlook — the chance to rethink their mortgage before another year passes.
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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
Why your old rate might not be your final rate
A lot of homeowners assume their mortgage rate is locked in for life, but that's not how it works. Market conditions shift, your financial situation changes, and sometimes the numbers make a strong case for looking at your options. Refinancing isn't right for everyone — it depends on how long you plan to stay in your home, what your new rate might be, and the costs involved. But ignoring the possibility altogether could cost you. If it's been a while since you closed, a quick conversation about whether a refinance makes sense could save you real money over time.
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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 Jessica Firmiano team any time and we'll walk you through your options. |
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6 Wills Way, Piscataway, NJ 08854
(908) 656-3886 | https://petracephasinc.theradcrm.com/
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