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Mortgage Market Update
Joey Rivero
Clear Choice Lending Group
Wednesday, August 19, 2026
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Should you refinance your mortgage? |
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Hi there, I wanted to share some thoughts on refinancing this week—specifically, how to know if it's the right move for you.
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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
When refinancing makes sense (and when it doesn't)
Refinancing sounds like a no-brainer when rates drop, but the real answer depends on your situation. A lower rate saves money only if you stay in the home long enough to recoup closing costs. Your credit score, current loan balance, and how much time is left on your mortgage all play a role too. Sometimes it makes sense; sometimes you're better off leaving things alone. The key is doing the math on your specific numbers rather than chasing every rate move. I'd be happy to walk through the numbers with you and show you whether refinancing could actually put money back in your pocket. Let's talk through whether refinancing makes sense for your loan right now.
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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 Joey Rivero team any time and we'll walk you through your options. |
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