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Mortgage Market Update
Johnathan Lee
Johnathan Lee
Thursday, August 20, 2026
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Is refinancing worth it for you? |
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Homeowners often ask me the same question: should I refinance right now? The answer depends on a few things beyond just the rate.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates dip. The real question is whether the monthly savings justify the closing costs and how long you plan to stay in your home. I've seen borrowers get excited about a lower rate only to realize they'd break even in five years—and they're planning to move in three. If you're thinking about refinancing, it's worth a conversation about your timeline, current loan details, and how much you'd actually save. I can walk through the numbers with you and help you decide if it's worth doing now or waiting. Let's talk through your specific situation. Reach out whenever you'd like to explore whether refinancing makes sense 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 Johnathan Lee team any time and we'll walk you through your options. |
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