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Mortgage Market Update
Major Singleton
Major Singleton
Thursday, August 20, 2026
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Does refinancing make sense for you? |
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Homeownership circumstances change, and so do mortgage options. This week I want to walk through when refinancing deserves a closer look.
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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
When refinancing makes sense
Refinancing isn't right for everyone, but it's worth considering if your situation has changed since you bought. Lower rates, shorter loan terms, or switching from an adjustable to a fixed rate can all make refinancing worthwhile. The key is understanding your breakeven point—how long it takes for monthly savings to outweigh closing costs. If you plan to stay in your home long enough to recoup those costs, a refi could put real money back in your pocket. Every borrower's math is different, which is why it's worth having a conversation about whether it makes sense for you. Let's talk through whether refinancing could work in your favor.
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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 Major Singleton team any time and we'll walk you through your options. |
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