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Mortgage Market Update
Bruce Gruys
Bruce Gruys
Thursday, August 20, 2026
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Should you refinance right now? |
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I get asked about refinancing often—and for good reason. But the answer isn't always yes. Here's what to consider before you decide.
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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?
Refinancing isn't always the right move, even when rates drop. The real question is whether your new loan will save you money over time—and that depends on your break-even point. If you're planning to stay in your home long enough to recoup closing costs through lower monthly payments or a better rate, it could be worth exploring. But if you're thinking of selling or moving in a few years, the math might not work in your favor. I help borrowers run the actual numbers so the decision is clear, not just hopeful. Let's talk through whether refinancing makes sense for your situation.
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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 Bruce Gruys team any time and we'll walk you through your options. |
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