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Mortgage Market Update
Jason Thomas
Jason Thomas
Thursday, August 20, 2026
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Does refinancing make sense for you? |
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Hi there. This week I want to cover a question I hear often: should I refinance? Here's what you need to know.
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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 it makes sense to refinance your mortgage
Refinancing isn't right for everyone, but it can be a smart move if your situation has changed. The main reasons people refinance are to lower their monthly payment, shorten their loan term, or switch from an adjustable rate to a fixed one for stability. The tradeoff is closing costs and the time to process the new loan—so it helps to think through whether the savings justify the effort. I'm happy to run the numbers for you and show what refinancing might look like based on where rates are today and what you owe on your home. Sometimes it's a clear win; sometimes waiting makes more sense. Either way, it's worth an honest conversation. Let's talk through whether refinancing could work in your favor 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 Jason Thomas team any time and we'll walk you through your options. |
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