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Mortgage Market Update
Michael King
Michael King
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Not every mortgage move is the right one for everyone. This week I want to help you think clearly about whether refinancing is worth it for your situation.
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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 refinancing 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 savings justify the cost and time involved. It might make sense if you're lowering your rate significantly, shortening your loan term, or switching from an adjustable to a fixed rate. But if you're planning to move in a few years, or the numbers only pencil out barely, refinancing could leave you underwater. I always recommend running the actual math on your specific loan before deciding. That's where I come in—I can walk you through the numbers and help you decide whether a refinance makes financial sense for your timeline and goals.
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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 Michael King team any time and we'll walk you through your options. |
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619-944-1137 | https://www.barrettfinancial.com/michael-king
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