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Mortgage Market Update
Myrna Hernandez
Myrna Hernandez Venzor
Thursday, August 20, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to tackle a question I hear a lot: when does refinancing actually make sense?
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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 drop or your situation changes. The real question is whether the benefit you'll gain over time outweighs the cost of refinancing itself. Maybe you're thinking about cashing out equity for a renovation, or maybe you just want a lower payment. Both are valid reasons—but the math has to work. Sometimes staying put is the smarter choice. That's where I come in. I can walk you through whether refinancing pencils out for your specific situation, and if it does, we can explore which loan program fits best. If it doesn't, I'll tell you that too. Let's talk through your refinance options—no obligation.
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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 Myrna Hernandez team any time and we'll walk you through your options. |
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