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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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I get a lot of questions about refinancing, especially when people hear rates have moved. Today I want to clear up when it actually pencils out.
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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 actually makes sense
Refinancing isn't right for everyone, but it can be smart in specific situations. The most common reason people refinance is to lower their monthly payment when rates drop—but it can also help you pay off your loan faster, switch from an adjustable to a fixed rate, or tap into home equity for something important. The key is understanding your costs. Refinancing involves closing costs and a new application process, so you want to make sure the benefit outweighs what you'll pay upfront. If you've been in your home a few years and circumstances have changed—your credit improved, rates shifted, or your financial goals evolved—it might be worth exploring. I'm happy to walk through whether it makes sense for your specific situation. Reach out if you'd like to 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 Deuane Woodard team any time and we'll walk you through your options. |
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