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Mortgage Market Update
My Mortgage Company
Joseph Cowart — Joseph Cowart
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to talk about one of the questions I hear most often—and one that deserves a careful, honest answer.
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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 refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your home gains value. The math has to work: you need to stay in the home long enough to recoup closing costs through lower payments, and your credit and income have to support approval. Sometimes a cash-out refi makes sense if you're paying high-interest debt or funding a major home improvement. Other times, you're better off leaving things alone. I've seen borrowers pull the trigger too fast and regret it. Before you decide, let's run the numbers together—I can show you exactly what the payoff timeline looks like and whether refinancing actually saves you money in your situation. If you're wondering whether refinancing is worth exploring, I'd be happy to walk through the specifics with you.
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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
Joseph Cowart — Joseph Cowart
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