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Mortgage Market Update
Caleb May
Caleb May
Thursday, August 20, 2026
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Should you refinance? Let's find out |
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Not every rate move calls for action. Sometimes the smartest financial move is to do nothing. Here's how to tell the 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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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and how much your monthly payment would actually change. Some people refinance to lower their rate or shorten their loan term. Others tap equity for a major expense. But if you're thinking about selling in a few years, the savings might not justify the upfront cost. I'd rather walk you through the actual numbers for your situation than have you guess. Let's talk about whether it makes sense for you right now. Give me a call if you'd like to run the numbers together.
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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 Caleb May team any time and we'll walk you through your options. |
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