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Mortgage Market Update
Joseph Kennaley
Joseph Kennaley
Wednesday, August 19, 2026
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Should you refinance? Here's how to decide. |
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Refinancing gets a lot of attention, but it's not right for everyone. This week, I want to walk you through 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
I get asked often whether someone should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The main reason people refinance is to lower their monthly payment or shorten their loan term, but there are closing costs involved, so you need to think about how long you'll stay in the home. If you're planning to move in a few years, refinancing might not pay for itself. On the flip side, if you're settling in and rates have moved favorably, it could free up real money each month or help you build equity faster. The key is looking at your specific numbers—not just the rate, but the full picture of costs and benefits. Let's talk through whether refinancing makes sense for your home and timeline.
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Tip of the Week
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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1.
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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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 Joseph Kennaley team any time and we'll walk you through your options. |
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