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Mortgage Market Update
Justin Leach
JL Lending Team
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Sometimes the right financial move is knowing when not to make one. This week, let's talk about when refinancing actually pays off.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings or term change you'd gain outweighs what you'd pay in closing costs and reset your loan timeline. If you're planning to stay in your home long enough to recoup those costs, a refi might pencil out. But if you're thinking about moving in a few years, the math often doesn't work in your favor. I help borrowers run these numbers all the time—it's worth an honest conversation about your timeline and goals before you decide. Let's talk through whether refinancing makes sense for your situation. I'd be happy to walk through the numbers with you—reach out and we can see if it's worth exploring.
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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 Justin Leach team any time and we'll walk you through your options. |
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