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Mortgage Market Update
High Lakes Lending, LLC
High Lakes Lending, LLC
Thursday, August 20, 2026
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Does refinancing actually pay off for you? |
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There's a lot of noise around refinancing, and most of it leaves borrowers confused. This week I'm breaking down one straightforward question that matters.
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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 actually makes sense
Not every rate decrease is worth refinancing for. The real question is whether your new loan costs—closing costs, appraisal, title work, and everything else—get paid back by the interest you'll save before you sell or move again. Some people break even in a few years; others might take much longer. It depends on your timeline, how much you owe, and how far rates have actually fallen. The math is personal to your situation, which is why it's worth a conversation before you decide. If you've been thinking about whether refinancing makes sense for you, I'd be happy to walk through the numbers so you can make the call with confidence. Let's talk about whether refinancing could work for your specific situation.
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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 High Lakes Lending, LLC team any time and we'll walk you through your options. |
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