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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Wednesday, August 19, 2026
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When should you think about refinancing? |
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Hi there,
I'm sharing some straight talk this week about refinancing—what it is, when it works, and what questions to ask first.
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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 for your situation
Refinancing isn't right for everyone, but it's worth understanding when it might work in your favor. The main reasons borrowers refinance are to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity for a major expense. The catch is that refinancing involves new closing costs and a reset timeline, so the math has to work out. I always tell clients to think about how long they plan to stay in the home—if you're moving in two years, those closing costs may not pay for themselves. If you're staying put and rates have moved in a favorable direction, or your credit has improved significantly since you bought, that's often when a conversation with me makes sense. If you're curious whether refinancing could benefit you, I'd be happy to walk through the numbers with no pressure.
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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 Elijah Bernhardt team any time and we'll walk you through your options. |
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