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Mortgage Market Update
Option Mortgage
Option Mortgage
Thursday, August 20, 2026
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Does refinancing make sense for you? |
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Markets shift, life changes, and sometimes your mortgage should too. Let's look at what refinancing actually involves and when it's worth considering.
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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?
I get asked this a lot, and the answer depends on your situation. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity for a big expense. But it's not automatic—you'll want to think through closing costs, how long you plan to stay in your home, and what rates look like compared to your current loan. The math matters, and sometimes staying put is the smarter move. I'm happy to walk you through the numbers and help you figure out if it's worth exploring right now. Reach out if you'd like to talk through whether refinancing could work for 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 Option Mortgage team any time and we'll walk you through your options. |
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