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Mortgage Market Update
My Mortgage Company
Annie Waneck — Annie Waneck
Thursday, August 20, 2026
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Should you refinance? Here's how to tell |
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Hi there. A lot of homeowners ask me about refinancing when rates shift, but they're not sure it's actually worth doing.
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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 a rate drop might be worth your time
Refinancing isn't always the right move—it depends on your situation, how long you plan to stay in your home, and what rates are doing. The general idea is simple: if rates fall enough to offset the costs of refinancing, you could lower your monthly payment or shorten your loan term. But there's no magic number that works for everyone. Some people break even in a few months; for others, it takes longer. The best way to know if refinancing makes sense for you is to run the numbers with real figures from your loan. I can pull together a quick comparison so you can see whether it's worth exploring right now. Let's talk about whether refinancing could work for your loan—just send me a message or give me a call.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Annie Waneck — Annie Waneck
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