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Mortgage Market Update
Swift Mortgage
Swift Mortgage
Thursday, August 20, 2026
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What happens if rates move during closing |
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When you're buying or refinancing, the mortgage process can take a few weeks from start to finish. Along the way, market conditions—and your rate—can shift.
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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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Smart Money
What to do if rates rise before you close
If you're in the mortgage process, rate locks exist for a reason—they protect you if rates climb between application and closing. But what happens if your lock expires before you cross the finish line, or if you're still shopping and worried about timing? The truth is, rate movement is normal and unpredictable. Rather than trying to time the market, focus on what you can control: getting your finances in order, locking in when you're ready to move forward, and understanding your loan terms before you sign. If you're concerned about rates shifting, let's talk through your options and timeline. Reach out if you'd like to walk through your closing timeline and lock strategy.
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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 Swift Mortgage team any time and we'll walk you through your options. |
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