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Mortgage Market Update
Chris Opfer
Christopher R Opfer
Thursday, August 20, 2026
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Refinancing: worth it or not? |
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Hi there. A lot of homeowners wonder whether they should refinance, but the answer isn't always obvious. I want to help you figure out if it makes sense for 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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Refinancing Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings justify the cost and time involved. Sometimes a lower rate sounds great on paper but takes years to recover what you'll pay in closing costs. Other times—especially if your situation has changed—refinancing can free up monthly cash flow or shorten your loan term in a way that truly moves the needle. The right answer depends on your specific loan, timeline, and goals. I'm happy to walk through the numbers with you and show what refinancing would actually mean for your payment and total interest. Let's talk through whether refinancing fits your situation 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 Chris Opfer team any time and we'll walk you through your options. |
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