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Mortgage Market Update
Lester Marcano
Lester Marcano
Thursday, August 20, 2026
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Should you consider refinancing your mortgage? |
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Hi — I know refinancing gets a lot of buzz, but it's not right for everyone or every moment. Let me break down what actually matters when you're thinking about it.
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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 does it make sense to refinance?
Refinancing isn't a one-size-fits-all decision — it depends on your situation, how long you plan to stay in your home, and what rates are doing. Some people refinance to lower their monthly payment, others to shorten their loan term or switch loan types. The key is understanding what you're trying to accomplish and whether the costs involved make financial sense for your goals. If you've been wondering whether refinancing might work for you, I'd love to walk through the numbers and trade-offs specific to your loan. There's no obligation — just a conversation to see if it's worth exploring. Reach out anytime if you'd like to talk through your refinancing 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 Lester Marcano team any time and we'll walk you through your options. |
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