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Mortgage Market Update
Eric Painter
Eric Painter
Wednesday, August 19, 2026
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Should you refinance your mortgage? |
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Hi there,
This week I want to tackle a question I hear often: when is the right time to refinance?
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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 does refinancing actually make sense?
A lot of homeowners ask me whether they should refinance, and honestly, the answer depends on your personal situation more than it depends on rates alone. Refinancing can lower your monthly payment, shorten your loan term, or help you access cash you've built up in your home—but it also comes with costs and a new loan timeline to consider. The key is understanding what you're trying to achieve. Are you looking to reduce what you pay each month? Lock in stability? Tap your equity for a specific goal? Once you're clear on that, we can look at whether the math works for you. I'd love to walk through your options and see if a refinance could help you reach your goals. Let's talk about whether refinancing makes sense for your situation.
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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 Eric Painter team any time and we'll walk you through your options. |
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