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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Wednesday, August 19, 2026
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Should you refinance your mortgage? |
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A lower rate doesn't always mean a better deal. This week, let's look at the real math behind refinancing.
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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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Refinance Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs your closing costs and how long you plan to stay in your home. If you're thinking about moving in a few years, a refi might not pencil out. But if you're settled in and your situation has changed—your credit improved, your home's value climbed, or you want to shorten your loan term—refinancing could genuinely lower your costs or build equity faster. The key is running the actual numbers for your specific scenario, not just chasing a lower rate. I'd love to walk through whether refinancing makes sense for you. Let's talk through your refinance options and see if it's worth exploring right now.
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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 Jessica Higgins team any time and we'll walk you through your options. |
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