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Mortgage Market Update
Joe Edwards
Joe Edwards
Thursday, August 20, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to walk you through a decision many homeowners face—whether refinancing makes sense. It's not always the obvious choice, but when it is, it can make a real difference.
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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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all—it works best when your goals and finances line up. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a major expense or to move from an adjustable rate to a fixed one. The catch is that refinancing involves closing costs and a new application, so it only pencils out if the benefit outweighs what you'll pay upfront. The math changes depending on how long you plan to stay in your home and what rates look like when you apply. If you've been wondering whether now is the right time to explore this option, that's worth a real conversation with someone who knows your loan and your plans. Let's talk through whether refinancing could work 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 Joe Edwards team any time and we'll walk you through your options. |
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