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Mortgage Market Update
Matthew McGuire
Matthew McGuire
Thursday, August 20, 2026
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Should you refinance right now? |
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Hi there. This week I want to talk about one of the biggest decisions homeowners face—whether to refinance.
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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. The main reason people refinance is to lower their monthly payment or shorten their loan term. But there are costs involved—closing costs, appraisals, and time. Before you jump in, it's worth asking: How long do I plan to stay in this home? Will my new payment actually save me money after fees? Do I want to pay off my loan faster, or keep payments low right now? Sometimes the answer is yes. Sometimes it's no. I can walk you through the actual numbers for your situation and help you figure out if it makes financial sense. No pressure, no obligation—just honest math. Reach out if you'd like me to run a quick comparison for you.
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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 Matthew McGuire team any time and we'll walk you through your options. |
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