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Mortgage Market Update
Megan Luksha
Megan Luksha
Thursday, August 20, 2026
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Should you refinance? Here's how to tell |
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Hi there. I wanted to share some straight talk about refinancing—what it is, when it might help, and how to know if it's worth considering right now.
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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 just about chasing lower rates—though that's often what gets the conversation started. It can also help you shorten your loan term, switch from adjustable to fixed payments, tap equity for a major expense, or consolidate debt. The key is understanding your own situation: how long you plan to stay in your home, what your current rate and terms are, and what you're trying to accomplish. Sometimes the math favors a refi; sometimes it doesn't. That's why it's worth a conversation rather than a guess. If you've been thinking about refinancing but weren't sure where to start, I'm here to walk through the numbers with you and help you decide if it's the right move. Reach out if you'd like to explore whether refinancing makes sense 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 Megan Luksha team any time and we'll walk you through your options. |
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