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Mortgage Market Update
My Mortgage Company
Charles Skinner — Charles Skinner
Thursday, August 20, 2026
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Should you refinance? Here's how to tell. |
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Hi there—this week I want to tackle a question I hear often: Is now the right time to refinance? The answer isn't always obvious, so let me break down what actually matters.
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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)
I talk to homeowners every week who wonder if refinancing is worth it. The truth is, it depends on your situation. If rates drop significantly, your loan term, how long you plan to stay in your home, and your current credit profile all play a role. Sometimes refinancing saves you real money over time. Other times, the costs outweigh the benefit. Rather than chase every rate movement, it helps to think about your bigger picture: are you trying to lower your monthly payment, pay off your home faster, or tap into equity for something important? Those are different goals, and they point to different answers. I'm happy to walk through the math with you—no obligation, just clarity. Let's talk through whether refinancing fits your plan 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Charles Skinner — Charles Skinner
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