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Mortgage Market Update
Tyler Burns
Lifestyle Lending
Thursday, August 20, 2026
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Should you refinance? Let's do the math |
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Hi there. Every homeowner's situation is different, and refinancing decisions shouldn't be made on a whim.
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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 Strategy
When refinancing actually makes sense
A lot of homeowners ask me whether they should refinance, and honestly, the answer depends on your situation — not just what rates are doing. Refinancing makes sense when the long-term savings outweigh closing costs and the time you plan to stay in your home. It's also worth considering if your credit has improved since you bought, if you want to shorten your loan term, or if you're paying private mortgage insurance and now have enough equity to remove it. The key is doing the math with real numbers, not guessing. I'm happy to run a quick analysis with you to see if a refinance pencils out for your specific scenario. Let me know if you'd like to explore whether refinancing could work 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 Tyler Burns team any time and we'll walk you through your options. |
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