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Mortgage Market Update
Caleb May
Caleb May
Wednesday, August 19, 2026
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Should you refinance? Let's find out |
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Not every rate move calls for action. Sometimes the smartest financial move is to do nothing. Here's how to tell the 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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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and how much your monthly payment would actually change. Some people refinance to lower their rate or shorten their loan term. Others tap equity for a major expense. But if you're thinking about selling in a few years, the savings might not justify the upfront cost. I'd rather walk you through the actual numbers for your situation than have you guess. Let's talk about whether it makes sense for you right now. Give me a call if you'd like to run the numbers together.
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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 Caleb May team any time and we'll walk you through your options. |
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