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Mortgage Market Update
Melanie Camargo
Melanie Camargo
Thursday, August 20, 2026
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Should you refinance? Here's how to know |
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Hi there,
One of the most common questions I get is whether now is a good time to refinance. The answer isn't always obvious.
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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 the long-term benefit outweighs what you'll pay upfront. Sometimes a lower rate saves you thousands over time. Other times, you're better off staying put. It depends on your timeline, how long you plan to stay in your home, and the specific terms of what's available to you right now. I've seen borrowers refinance too often and come out behind, and I've also seen people miss genuine opportunities to improve their financial position. If you're wondering whether it makes sense for your situation, I'd be happy to walk through the math with you — no obligation, just clarity. Let's talk about whether a refinance 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 Melanie Camargo team any time and we'll walk you through your options. |
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