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Mortgage Market Update
Evelyn Morgan
Keyway Lending powered by Edge Home Finance
Thursday, August 20, 2026
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Should you refinance this month? |
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Rates don't stay still, and when they move in your favor, the question naturally comes up: is it time to refinance? The answer depends on more than just the rate itself.
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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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Refinance Strategy
When a rate drop is worth the cost of refinancing
Not every rate decrease justifies refinancing. When rates fall, it's tempting to jump at the chance to lower your monthly payment, but refinancing carries costs — closing costs, appraisal fees, title work — that take time to recoup. The real question is whether your savings will outpace those upfront expenses. If you plan to stay in your home long enough to break even, refinancing can make sense. If you're uncertain about your timeline or the numbers feel tight, it's worth sitting down with the details. I can walk you through the math so you know exactly what you're getting into. Let's run the numbers on your situation — reach out if you'd like to explore whether refinancing makes sense for you right now.
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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 Evelyn Morgan team any time and we'll walk you through your options. |
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