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Mortgage Market Update
Ryan Spencer
Ryan Spencer
Thursday, August 20, 2026
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Should you refinance right now? |
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Hi there. This week I'm tackling a question I hear a lot: when does refinancing actually pay off?
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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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Refinance Strategy
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates are lower—it's whether the savings over time outweigh what you'll pay to refinance. Some people break even in a few years. Others take much longer. If you're planning to stay in your home for a while, a refi might pencil out nicely. But if you're thinking of selling soon, the math usually doesn't work in your favor. I can walk you through your specific situation and show you whether refinancing actually saves you money or just costs you upfront. There's no one-size-fits-all answer, which is exactly why it's worth a conversation. Let me run the numbers for your loan—no pressure, just clarity.
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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 Ryan Spencer team any time and we'll walk you through your options. |
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