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Thursday, August 20, 2026 |
Mortgage Market Update
Does refinancing make sense right now?
Hi there. This week I want to touch on a question I hear often: should I refinance my mortgage?
National Mortgage Rates · August 13, 2026 |
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30-Year Fixed
6.67%
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FHA 30-Year
6.46%
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VA 30-Year
6.36%
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Source: Freddie Mac PMMS & Optimal Blue via FRED |
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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—replace your old loan with a new one—but the right timing depends on your situation. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a home project or debt consolidation. The catch is that refinancing comes with costs, so it only pencils out if you'll stay in the home long enough to recoup them. That math is different for everyone. If you've been in your home for a while, your credit has improved since you first borrowed, or rates have shifted noticeably, it might be worth a conversation. I'm happy to walk through whether it makes sense 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 Andrew Karam - Edge Home Finance, LLC team any time and we'll walk you through your options.
Schedule a consultation →
8631 W Union Hills Dr Ste 201, Peoria, AZ 85382 ·
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