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Mortgage Market Update
Matthew Ridley
Matthew Ridley
Thursday, August 20, 2026
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Should you refinance? A quick answer |
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There's a lot of noise out there about refinancing. This week I want to cut through it and help you think clearly about whether it's right for your situation.
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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 drop or your situation changes. The real question is whether the benefit outweighs the cost and time. If you're thinking about refinancing to lower your payment, shorten your loan term, or tap your home's equity, it helps to run the numbers with someone who knows your specific loan and goals. I've seen homeowners save thousands by refinancing at the right time, and I've also steered people away from it when it wouldn't pencil out. The difference is doing the math upfront instead of chasing a feeling. If you've been wondering whether it's worth exploring, I'm happy to walk through your options with no pressure or obligation. Reach out and we can look at 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 Matthew Ridley team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Matthew Ridley
Matthew Ridley
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