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Mortgage Market Update
Jasmyne Inkrote
Edge Home Finance, LLC
Thursday, August 20, 2026
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Lock or float? Here's what matters |
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Hi there. This week I want to walk you through one of the most important choices in the mortgage process—and one that catches borrowers off guard.
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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
Why locking in matters more than you think
When you're shopping for a mortgage or refinance, one decision shapes your entire loan: whether to lock your rate now or float and wait. Locking protects you if rates move up before closing—you keep the rate you were quoted. Floating means you can benefit if rates drop, but you risk paying more if they climb. There's no crystal ball here. The right choice depends on your timeline, risk tolerance, and how soon you need to close. If you're moving in 30 days or nervous about rate swings, locking gives you peace of mind. If you have flexibility and want to gamble on a dip, floating might make sense. Either way, it's a conversation worth having before you're stuck with regret.
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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 Jasmyne Inkrote team any time and we'll walk you through your options. |
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