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Mortgage Market Update
Rafael Santos
Rafael Santos
Thursday, August 20, 2026
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Does refinancing pencil out for you? |
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Hi there. Sometimes the smartest financial move is knowing when *not* to make one.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't automatically the right move just because rates shift or time passes. The real question is whether the math works for your situation. A lower rate sounds great until you factor in closing costs and how long you plan to stay in your home. If you're refinancing to shorten your loan term or tap equity for a genuine need, that's different than chasing a rate drop that might not recoup what you'll pay in fees. The best time to refinance is when your personal and financial picture aligns with the numbers—not the other way around. I'm happy to walk through what a refi would actually look like for you, no pressure. Let's talk about whether refinancing makes sense for your situation right now.
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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 Rafael Santos team any time and we'll walk you through your options. |
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