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Mortgage Market Update
Jason Erickson
Jason Erickson
Thursday, August 20, 2026
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Does a refinance make sense for you right now? |
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Sometimes the best financial move is knowing when not to make one. This week I want to share how to think about refinancing the right way.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop or your situation changes. The real question is whether the long-term savings justify the upfront costs and time involved. Sometimes staying put makes more financial sense than starting a new loan. I see borrowers benefit most when they have a clear goal—lowering monthly payment, shortening the loan term, or switching from adjustable to fixed rates—and a realistic timeline to recoup the costs. If you're wondering whether refinancing pencils out for your specific home and loan, I'm happy to walk through the numbers with you. There's no obligation; it's just smart planning. Let's talk about whether refinancing could work for your 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 Jason Erickson team any time and we'll walk you through your options. |
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