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Mortgage Market Update
My Mortgage Company
Chad Pennington — Lindsey Pennington
Wednesday, August 19, 2026
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Should you refinance? Here's how to tell. |
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Hi there—this week I want to talk about one of the most common questions I get from homeowners with mortgages they've had for a while.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look appealing. The real question is whether the monthly savings justify closing costs and a new loan term. If you're planning to stay in your home long enough to recoup those upfront expenses, refinancing can lower your payment or shorten your loan. But if you're thinking about selling in a few years, the math might not work in your favor. I run these scenarios for homeowners all the time—some discover refinancing saves them tens of thousands; others find they're better off staying put. The only way to know is to look at your specific situation: your current rate, the new rate, your remaining balance, how long you plan to stay, and your closing costs. That's where we can help. Let's talk through 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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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Chad Pennington — Lindsey Pennington
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