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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Wednesday, August 19, 2026
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Does refinancing make sense right now? |
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I get a lot of questions about refinancing, especially when people hear rates have moved. Today I want to clear up when it actually pencils out.
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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 basics
When refinancing actually makes sense
Refinancing isn't right for everyone, but it can be smart in specific situations. The most common reason people refinance is to lower their monthly payment when rates drop—but it can also help you pay off your loan faster, switch from an adjustable to a fixed rate, or tap into home equity for something important. The key is understanding your costs. Refinancing involves closing costs and a new application process, so you want to make sure the benefit outweighs what you'll pay upfront. If you've been in your home a few years and circumstances have changed—your credit improved, rates shifted, or your financial goals evolved—it might be worth exploring. I'm happy to walk through whether it makes sense for your specific situation. Reach out if you'd like to 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 Deuane Woodard team any time and we'll walk you through your options. |
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