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Mortgage Market Update
Cait Haugen
Cait Haugen
Thursday, August 20, 2026
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When does refinancing actually pay off? |
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One of the questions I hear most is whether someone should refinance. The answer depends on a lot more than just rates.
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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 dip or your situation changes. The real question is whether the benefit outweighs the cost and time involved. Sometimes a rate drop of a quarter-point isn't enough to justify closing costs and a new loan term. Other times—say, you've built serious equity or your credit has improved since you bought—refinancing can unlock real savings or give you flexibility you didn't have before. The key is looking at your whole picture: how long you plan to stay in the home, what your current rate and loan terms are, and what you'd pay to make the switch. I can walk you through the math without pressure. Let's talk about whether now is your moment. Reach out if you'd like to explore whether refinancing could work 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 Cait Haugen team any time and we'll walk you through your options. |
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