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Mortgage Market Update
The Douglas Team
The Douglas Team
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Hi there — I wanted to share some straightforward thinking about refinancing this week. It's one of those decisions that looks different for every homeowner.
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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 makes sense for your situation
Refinancing isn't right for everyone, but it's worth understanding when it might work in your favor. The most common reason people refinance is to lower their monthly payment — either through a better interest rate or by extending the loan term. Others refinance to switch from an adjustable rate to a fixed one, or to tap into home equity for a major expense. The catch is that refinancing involves closing costs, so you'll want to make sure the savings justify the upfront investment. The longer you plan to stay in your home, the more time you have to recoup those costs. I'm happy to walk through the numbers with you and help you figure out if refinancing could actually put money back in your pocket. Let's talk through whether refinancing could work 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 The Douglas Team team any time and we'll walk you through your options. |
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