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Mortgage Market Update
Fawn Crosby
Fawn Crosby
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Rates move all the time, and whenever they do, refinancing questions pop up. But not every rate move is worth acting on.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the savings justify closing costs and the time to close. Some borrowers benefit quickly; others break even much later or not at all. It depends on your loan balance, how long you plan to stay in the home, and what you're trying to accomplish—lower payment, shorter term, cash out, or switching loan types. I help clients run the actual math so there are no surprises. If you've been wondering whether now is your moment to refinance, or if you're curious how the numbers would work for your situation, I'd like to walk through it with you. Let's talk through whether refinancing could work for 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 Fawn Crosby team any time and we'll walk you through your options. |
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