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Mortgage Market Update
Hardeep Rai
Hardeep Rai
Thursday, August 20, 2026
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Should you refinance your mortgage? |
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Hi there. Sometimes a conversation about your current loan can open up new possibilities you hadn't considered.
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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?
A lot of homeowners ask me whether they should refinance, and the answer depends on your situation. The main idea is simple: if you can get a loan with better terms than what you have now, it might be worth the cost to switch. That could mean a lower rate, a shorter loan term, or getting out of an adjustable rate before it resets. But refinancing isn't free—there are closing costs involved—so you want to make sure the benefit outweighs what you'll pay upfront. The best move is to run the numbers for your specific loan and timeline. I'd be happy to walk you through what refinancing could look like for you and whether it makes sense right now. Reach out if you'd like to explore whether refinancing could work in your favor.
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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 Hardeep Rai team any time and we'll walk you through your options. |
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