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Mortgage Market Update
Kaelan Cheatham
Kaelan Cheatham
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Interest rates move, and so do people's circumstances. This week, let's look at when refinancing is actually worth the effort.
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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 actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings or other benefits justify the closing costs and time involved. Some borrowers benefit from a shorter loan term, others from lowering their payment, and some from switching loan types. What matters is your specific situation: how long you plan to stay, your current rate and term, and what you're trying to accomplish. If you've wondered whether it's worth exploring, I'm happy to walk through the numbers with you and show what your options actually look like. Let's talk through whether refinancing makes sense for your home and financial goals.
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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 Kaelan Cheatham team any time and we'll walk you through your options. |
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