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Mortgage Market Update
Jonathan Lee
Jonathan Lee
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Not every homeowner needs to refinance, but for some, it's a smart financial move. This week, I'm breaking down when it actually pays off.
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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 a refi makes sense for your situation
Refinancing isn't one-size-fits-all, and it's not always the right move. The real question is whether a new loan serves your specific goals—whether that's lowering your monthly payment, shortening your loan term, tapping equity for a major expense, or getting out of an adjustable rate. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and where rates sit relative to your current loan. I've seen borrowers save thousands by refinancing, and I've also steered people away from it when the numbers didn't work. That's why it's worth a conversation: I can run the numbers on your exact situation and show you whether a refi would actually move the needle for you. Curious if refinancing could work for you? Let's talk through the details.
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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 Jonathan Lee team any time and we'll walk you through your options. |
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