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Mortgage Market Update
sherry kerr
Sherry Kerr
Thursday, August 20, 2026
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Should you refinance? Let's find out. |
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It's a question I hear often: is now a good time to refinance? The answer depends on your goals and your loan, so I wanted to break down what you should consider.
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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 it makes sense to refinance your mortgage
Refinancing isn't for everyone, but it's worth understanding when it might work in your favor. The most common reason people refinance is to lower their monthly payment when rates drop, but there are other reasons too — pulling out cash for home improvements, switching from an adjustable to a fixed rate, or shortening your loan term to build equity faster. The trade-off is that refinancing involves closing costs and a new application process, so you'll want to make sure the benefit outweighs what you'll spend. I can walk you through whether it makes sense for your situation and what your real numbers would look like. Let's talk through your options — reach out and we can review what refinancing might do 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 sherry kerr team any time and we'll walk you through your options. |
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