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Mortgage Market Update
Suzanne Camp
Suzanne Camp
Thursday, August 20, 2026
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When refinancing actually makes sense |
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Hi there — this week I want to walk you through one of the most common questions I hear from clients like 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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Smart Money
What happens to your mortgage when rates drop
A lot of homeowners ask me whether they're locked into their current rate forever. The short answer: it depends on your loan type. If you have a fixed-rate mortgage, your rate and payment stay the same no matter what happens in the market — that's the security of "fixed." But if rates do fall significantly, you'd have the option to refinance into a new loan at that lower rate. It's worth keeping an eye on rate trends, even if you're not actively looking to move. Knowing where rates are headed helps you make smarter decisions about when to refinance, whether to lock in now, or simply understand your own financial position better. Let's talk about whether a rate check makes sense for your situation.
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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 Suzanne Camp team any time and we'll walk you through your options. |
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