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Mortgage Market Update
My Mortgage Company
Kelly Rankin — Kelly Rankin
Thursday, August 20, 2026
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Does refinancing make sense for you right now? |
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There's a lot of noise around refinancing, but the decision is simpler than it sounds. Let me break it down for you.
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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 does refinancing actually make sense?
A lot of people think about refinancing when rates drop, but timing isn't the whole story. The real question is whether the long-term benefit outweighs what you'll pay upfront. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable rate to a fixed one — but each scenario has different math behind it. The best move depends on how long you plan to stay in your home, your current loan terms, and where rates stand relative to your existing rate. I'd be happy to walk through whether it makes sense for your situation right now. If you've been curious about refinancing, let's talk through the numbers together.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Kelly Rankin — Kelly Rankin
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