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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Thursday, August 20, 2026
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Should you refinance your mortgage? |
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A lower rate doesn't always mean a better deal. This week, let's look at the real math behind refinancing.
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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 refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs your closing costs and how long you plan to stay in your home. If you're thinking about moving in a few years, a refi might not pencil out. But if you're settled in and your situation has changed—your credit improved, your home's value climbed, or you want to shorten your loan term—refinancing could genuinely lower your costs or build equity faster. The key is running the actual numbers for your specific scenario, not just chasing a lower rate. I'd love to walk through whether refinancing makes sense for you. Let's talk through your refinance options and see if it's worth exploring 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 Jessica Higgins team any time and we'll walk you through your options. |
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