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Mortgage Market Update
Michael Medina
Michael Medina
Thursday, August 20, 2026
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Should you refinance your mortgage? |
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Hi there. When the market shifts or life changes, homeowners often wonder if refinancing makes sense. This week I'm breaking down when it's worth considering and what to watch out for.
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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 it make sense to refinance?
Refinancing isn't right for everyone, but it's worth considering if your situation has changed. Maybe rates have moved in your favor, your credit score has improved, or you want to adjust your loan term. The key is weighing the costs of refinancing against how long you plan to stay in your home and what you'll actually save. I help borrowers run through these scenarios so they can see clearly whether a refinance pencils out for their goals. If you're curious whether it might work for you, I'm happy to walk through the numbers and answer your questions—no pressure, just clarity. Reach out if you'd like to explore whether refinancing could work 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 Michael Medina team any time and we'll walk you through your options. |
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