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Mortgage Market Update
Kris Rich
Kristen Rich
Thursday, August 20, 2026
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Does refinancing make sense for you right now? |
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I get this question every week, and it deserves a real answer. Let me walk you through how to think about it.
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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 does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing makes the most sense when your financial picture has changed—maybe your credit has improved, your home has gained value, or market conditions have shifted in a way that benefits you. But refinancing comes with costs, so it's worth doing the math to see if the long-term savings justify the upfront expense. Sometimes staying put is the smarter move. That's why I always recommend we sit down and walk through the numbers together before you decide. Every borrower's timeline and goals are different, and what worked for your neighbor might not work for you. Let's talk through whether a refinance makes sense in your case—no pressure, just clarity.
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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 Kris Rich team any time and we'll walk you through your options. |
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