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Mortgage Market Update
CHRIS MILLER
Chris Miller
Thursday, August 20, 2026
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Does a rate drop change your strategy? |
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Hi there. Rates are moving constantly, and I know it's easy to wonder what that means for you.
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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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Smart Money
What to do when rates drop
If you've been watching rates move, you've probably wondered whether a dip is worth acting on. The truth is, even a small rate movement can affect your monthly payment and the total interest you pay over the life of your loan. But whether refinancing or buying makes sense depends on your situation—how long you plan to stay in your home, what your current rate looks like, and what fees might apply. I always tell people: don't chase every tenth of a percent. Instead, think about your long-term plan and run the numbers. That's where a conversation with me comes in. I can show you what a rate change actually means for you, not just in theory. If rates have moved recently, reach out and let's talk through your options.
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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 CHRIS MILLER team any time and we'll walk you through your options. |
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