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Mortgage Market Update
My Mortgage Company
Liz Rich — Elizabeth Rich
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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Hi there. Rates shift all the time, and I know you may wonder if it's time to refinance. Let me share what I look at when answering that question.
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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 refinancing makes sense (and when it doesn't)
Refinancing can be a smart move—but not every time rates dip. The key is comparing what you'd pay in closing costs against what you'd actually save over time. If you're planning to stay in your home long enough to recoup those costs through lower monthly payments, it may be worth exploring. But if you're thinking of selling in a few years, the math often doesn't work. I help borrowers run the real numbers so you can decide with confidence, not just because rates moved. If you've been wondering whether refinancing is right for your situation, let's talk through it together. Reach out if you'd like to discuss 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Liz Rich — Elizabeth Rich
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