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Mortgage Market Update
Patrick Tahmazyan
Phast Funding
Thursday, August 20, 2026
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Should you refinance? Let's do the math. |
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I've been fielding a lot of questions about refinancing lately, and I want to make sure you have clarity on when it's really worth it.
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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 does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and honestly, there's no one-size-fits-all answer. The real question isn't whether rates dropped—it's whether the long-term benefit outweighs your closing costs and how long you plan to stay in your home. Sometimes a refinance pays for itself in just a few years. Other times, it takes longer than you'd expect. I always recommend we sit down and run the actual numbers for your situation: your current loan balance, how many years you've been paying, and your timeline. That way you're not guessing; you're deciding based on facts that matter to your wallet. Let's talk through whether refinancing makes sense for you 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 Patrick Tahmazyan team any time and we'll walk you through your options. |
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