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Mortgage Market Update
My Mortgage Company
Andrea WIlson — Andrea WIlson
Thursday, August 20, 2026
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When should you actually refinance? |
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Hi there. This week I want to tackle a question I hear often: is now the right time to refinance? The answer depends on your specific situation, not just market conditions.
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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 look attractive. The decision really comes down to two things: how long you plan to stay in your home, and whether the monthly savings justify the closing costs you'll pay upfront. If you're thinking about moving in a few years, refinancing might cost more than it saves. But if you're settled in and rates have shifted meaningfully, it could be worth a closer look. I always recommend we run the actual numbers for your situation—there's no one-size-fits-all answer. The math is the only honest way to know if it pencils out for you. If you've been wondering whether refinancing makes sense for your loan, let's talk through your numbers.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Andrea WIlson — Andrea WIlson
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