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Mortgage Market Update
Keila Nelson
Keila Nelson
Thursday, August 20, 2026
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Should you refinance? A simple way to check |
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Hi there. This week I want to tackle one of the most common questions I hear from homeowners.
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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 actually makes sense
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity for a major expense. But it also means closing costs and a new loan period to consider. The key is comparing what you'd pay over time versus what you'd save. Sometimes the math works in your favor within a year or two. Other times, you need to stay in the home longer for it to pencil out. I'm happy to walk through the numbers specific to your loan and goals—no pressure, just clarity. Curious if refinancing could work for you? Let's talk through your options.
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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 Keila Nelson team any time and we'll walk you through your options. |
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