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Mortgage Market Update
Lenni Oh
Lenni Oh
Thursday, August 20, 2026
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Should you refinance? Let's do the math |
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There's a lot of noise around refinancing, but the real answer depends on your individual timeline and goals. This week I want to walk you through how to think about it clearly.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the monthly savings justify the closing costs and the time to break even. If you're planning to stay in your home long enough to recoup those upfront expenses, a refinance could put real money back in your pocket. But if you might move or sell within a few years, the math gets trickier. I help borrowers run these numbers honestly—no pressure, just clarity. If you've been wondering whether now is your moment to refinance, or if you're curious how your current loan stacks up, let's talk through it together. Reach out and we can review whether refinancing makes sense 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 Lenni Oh team any time and we'll walk you through your options. |
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