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Mortgage Market Update
Joe Edwards
Joe Edwards
Wednesday, August 19, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to walk you through a decision many homeowners face—whether refinancing makes sense. It's not always the obvious choice, but when it is, it can make a real difference.
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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 Basics
When refinancing makes sense for your situation
Refinancing isn't one-size-fits-all—it works best when your goals and finances line up. Some borrowers refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a major expense or to move from an adjustable rate to a fixed one. The catch is that refinancing involves closing costs and a new application, so it only pencils out if the benefit outweighs what you'll pay upfront. The math changes depending on how long you plan to stay in your home and what rates look like when you apply. If you've been wondering whether now is the right time to explore this option, that's worth a real conversation with someone who knows your loan and your plans. Let's talk through whether refinancing could work 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 Joe Edwards team any time and we'll walk you through your options. |
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