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Mortgage Market Update
Dekoven Wesley
Dekoven Wesley
Thursday, August 20, 2026
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Should you refinance? Here's how to tell. |
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Hello,
One of the most common questions I get is whether now is a good time to refinance. Let me break down what actually matters when you're thinking about it.
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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)
I talk to a lot of homeowners who wonder if refinancing is worth it. The truth is, it depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap equity for a major expense. But it also comes with closing costs and a new loan timeline, so it's not automatic. The key question isn't "Are rates better?" — it's "Will the savings justify what I'm paying to refinance?" That math is different for everyone. Some people break even in months; others take years. I can walk you through your specific numbers so you know what refinancing would actually mean for your wallet and your timeline. Curious whether refinancing could work for you? Let's talk it through.
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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 Dekoven Wesley team any time and we'll walk you through your options. |
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