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Mortgage Market Update
Ryan Harding
Work Hard Mortgage
Wednesday, August 19, 2026
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Refinancing: more than just a lower rate |
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I talk with homeowners all the time who see a rate drop and wonder if they should refinance. Here's what actually matters when you're deciding.
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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?
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings over time outweigh what you'll pay in closing costs. If you've built significant equity and plan to stay in your home long enough to recoup those upfront expenses, it might be worth exploring. But if you're thinking of moving in a few years, or your loan is already near the end of its term, refinancing could actually cost you more than it saves. I'd be happy to run the numbers with your specific situation so you can see the real picture—not just the promise of a lower rate. Let's talk through whether refinancing makes sense for you.
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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 Ryan Harding team any time and we'll walk you through your options. |
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