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Mortgage Market Update
Paige Lott
Paige Lott
Thursday, August 20, 2026
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Does refinancing actually make sense right now? |
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Refinancing gets talked about a lot, but not every homeowner should do it. This week I want to break down how to tell if it's worth your time and money.
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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 shift. The real question is whether the cost to refinance—closing costs, appraisal, title work—will pay for itself through lower monthly payments or a shorter loan term before you sell or move. Sometimes staying put with your current loan is the smarter choice. Other times, refinancing can free up cash flow or help you build equity faster. The math depends entirely on your situation: how long you plan to stay, what you owe, and where rates are relative to your current loan. I'm happy to run the numbers with you and show you whether a refinance pencils out for your goals. Reach out anytime if you'd like me to analyze whether refinancing 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 Paige Lott team any time and we'll walk you through your options. |
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