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Mortgage Market Update
Derek Niday
The Niday Lending Team
Thursday, August 20, 2026
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Should you consider refinancing your home? |
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Hi there. Each week I share practical guidance on mortgages and homeownership—things I see help real borrowers make smarter decisions.
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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 for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move—even when rates look attractive. The real question is whether the monthly savings (or better terms) justify the costs and time involved in the process. Some borrowers benefit from a shorter loan term; others need to lower their payment. A few are simply in a better financial position than when they first borrowed. If you've been thinking about your loan and wondering whether now is the time to make a change, I'd like to walk through your specific numbers with you. There's no obligation, and it usually takes just a conversation to know if refinancing could actually work in your favor. If you'd like to explore whether refinancing could benefit you, let's talk.
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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 Derek Niday team any time and we'll walk you through your options. |
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