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Mortgage Market Update
Karen Cely Chavez
Karen Cely Chavez
Thursday, August 20, 2026
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Does refinancing make sense right now? |
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A lot of homeowners ask me whether they should refinance. The answer depends on your specific situation—not just the rates, but your goals and timeline too.
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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 Strategy
When a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether the monthly savings justify the closing costs and the time to break even. Some people refinance to lower their rate, others to tap equity or change their loan term. I always recommend running the numbers first—how long you plan to stay in the home matters a lot. If you're thinking about it, I'm happy to walk through what a refi would actually look like for your situation. No obligation, just honest math. If you'd like to explore whether refinancing makes sense for you, let's talk.
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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 Karen Cely Chavez team any time and we'll walk you through your options. |
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