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Mortgage Market Update
Timothy Barbieri
Timothy Barbieri
Thursday, August 20, 2026
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Does refinancing make sense for you? |
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A Note From Timothy Barbieri
A quick update from our team
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Hi there. I want to share some straight talk about when refinancing actually pays off—and when it's better to stay put.
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Refinancing Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the benefit you'd get outweighs the cost of refinancing itself. That means looking at how long you plan to stay in your home, what you'd pay in closing costs, and how much your monthly payment would actually drop. Sometimes the math just doesn't work in your favor—and that's okay. Other times, refinancing can be a smart way to lower your payment, shorten your loan term, or tap into equity for a major project. The only way to know which camp you're in is to run the real numbers with someone who understands your full picture.
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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 Timothy Barbieri team any time and we'll walk you through your options. |
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6 Wills Way, Building 2 Piscatway NJ 08854
732-476-9230 | https://www.petracephas.com/applywithtim
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