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Thursday, August 20, 2026 |
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Mortgage Market Update
Should you refinance? (probably not yet)
Hi there. Some weeks the question isn't whether you can refinance—it's whether you should. Let me walk you through how to think 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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs the cost to refinance your loan. If you're planning to stay in your home for several more years, it might pencil out. But if you're thinking of selling or moving in the near term, the math usually doesn't work in your favor. I help borrowers run these numbers honestly—no pressure, just clarity. It's worth having a conversation about your specific situation, timeline, and goals before making a decision. Let's talk through whether refinancing makes sense for you right now.
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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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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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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 Jon Puente team any time and we'll walk you through your options.
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5860 Baker Road, Minnetonka, MN, 55345
269-599-3395
Jon Puente · Unsubscribe
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