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Mortgage Market Update
Lee Simanoff
Lee Simanoff
Wednesday, August 19, 2026
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When should you refinance? |
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Hi there. This week I want to walk you through one of the most common questions I hear when rates move.
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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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Smart Money
What to do when rates drop
When mortgage rates fall, homeowners often face a choice: refinance to a lower rate, or stay put. The answer depends on a few things—mainly how long you plan to stay in your home and what your current rate looks like compared to where rates are now. Refinancing isn't free, so it only makes sense if the monthly savings add up over time. But sometimes a rate drop is worth acting on quickly, because rates can move back up just as fast. If you've been thinking about refinancing, now might be the moment to run the numbers and see if it pencils out for your situation. If you'd like to talk through whether refinancing makes sense for you right now, I'm here to help.
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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 Lee Simanoff team any time and we'll walk you through your options. |
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