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Mortgage Market Update
Emily Torvik
Emily J Torvik
Wednesday, August 19, 2026
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Should you refinance right now? |
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Not every refinance is worth doing. This week I'm breaking down how to know if it makes sense for you.
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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 drop or your home appreciates. The real question is whether the change improves your financial picture over time. Sometimes a lower rate saves you money; sometimes closing costs and a longer timeline eat those gains. And if you've already paid down a significant chunk of your loan, starting over on a new 30-year term might cost you more interest overall, not less. The best refinance decisions come from comparing your actual numbers—your current rate, remaining balance, how long you plan to stay, and what new terms you qualify for. I can help you run that math and figure out whether it pencils out for your situation. Let's talk through your numbers and see if refinancing works 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 Emily Torvik team any time and we'll walk you through your options. |
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