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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Not every homeowner should refinance, and not every homeowner should wait. Here's what to think about before making a move.
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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 right for everyone, and it's not right all the time. The decision comes down to a few straightforward questions: How long do you plan to stay in your home? What would your new payment look like? And how much would closing costs run? If you're thinking about moving in a few years, refinancing might cost more than you'd save. But if you're planning to stay put and your financial picture has improved—better credit, more income, or a significant drop in rates—it could free up cash flow or help you pay off your loan faster. The math is personal, and it's worth running the numbers. If you're curious whether a refinance makes sense for your situation, I'd be happy to walk through it with 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Keith Collins — Keith Collins
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