diff --git a/compiler/forget/src/Inference/InferReferenceEffects.ts b/compiler/forget/src/Inference/InferReferenceEffects.ts
index f00c4559bd..468bf28078 100644
--- a/compiler/forget/src/Inference/InferReferenceEffects.ts
+++ b/compiler/forget/src/Inference/InferReferenceEffects.ts
@@ -792,10 +792,18 @@ const HOOKS: Map<string, Hook> = new Map([
     "useRef",
     {
       kind: "Ref",
-      effectKind: Effect.Read,
+      effectKind: Effect.Capture,
       valueKind: ValueKind.Mutable,
     },
   ],
+  [
+    "useFreeze",
+    {
+      kind: "Ref",
+      effectKind: Effect.Freeze,
+      valueKind: ValueKind.Frozen,
+    },
+  ],
 ]);
 
 type HookKind = { kind: "State" } | { kind: "Ref" } | { kind: "Custom" };
@@ -812,7 +820,7 @@ export function parseHookCall(place: Place): Hook | null {
   }
   return {
     kind: "Custom",
-    effectKind: Effect.Freeze,
-    valueKind: ValueKind.Frozen,
+    effectKind: Effect.Mutate,
+    valueKind: ValueKind.Mutable,
   };
 }
diff --git a/compiler/forget/src/__tests__/fixtures/hir/optional-member-expression.expect.md b/compiler/forget/src/__tests__/fixtures/hir/optional-member-expression.expect.md
index cbc15b72b1..779bc76b45 100644
--- a/compiler/forget/src/__tests__/fixtures/hir/optional-member-expression.expect.md
+++ b/compiler/forget/src/__tests__/fixtures/hir/optional-member-expression.expect.md
@@ -16,16 +16,7 @@ function Foo(props) {
 
 ```javascript
 function Foo(props) {
-  const $ = React.unstable_useMemoCache();
-  const c_0 = $[0] !== props.a;
-  let x;
-  if (c_0) {
-    x = bar(props.a);
-    $[0] = props.a;
-    $[1] = x;
-  } else {
-    x = $[1];
-  }
+  const x = bar(props.a);
   const y = x?.b;
 
   const z = useBar(y);
diff --git a/compiler/forget/src/__tests__/fixtures/hir/timers.expect.md b/compiler/forget/src/__tests__/fixtures/hir/timers.expect.md
new file mode 100644
index 0000000000..d5efc6151b
--- /dev/null
+++ b/compiler/forget/src/__tests__/fixtures/hir/timers.expect.md
@@ -0,0 +1,60 @@
+
+## Input
+
+```javascript
+function Component(props) {
+  const start = performance.now();
+  const now = Date.now();
+  const time = performance.now() - start;
+  return (
+    <div>
+      rendering took {time} at {now}
+    </div>
+  );
+}
+
+```
+
+## Code
+
+```javascript
+function Component(props) {
+  const $ = React.unstable_useMemoCache();
+  let start;
+  if ($[0] === Symbol.for("react.memo_cache_sentinel")) {
+    start = performance.now();
+    $[0] = start;
+  } else {
+    start = $[0];
+  }
+  let now;
+  if ($[1] === Symbol.for("react.memo_cache_sentinel")) {
+    now = Date.now();
+    $[1] = now;
+  } else {
+    now = $[1];
+  }
+  let t0;
+  if ($[2] === Symbol.for("react.memo_cache_sentinel")) {
+    t0 = performance.now();
+    $[2] = t0;
+  } else {
+    t0 = $[2];
+  }
+  const time = t0 - start;
+  let t1;
+  if ($[3] === Symbol.for("react.memo_cache_sentinel")) {
+    t1 = (
+      <div>
+        rendering took {time} at {now}
+      </div>
+    );
+    $[3] = t1;
+  } else {
+    t1 = $[3];
+  }
+  return t1;
+}
+
+```
+      
\ No newline at end of file
diff --git a/compiler/forget/src/__tests__/fixtures/hir/timers.js b/compiler/forget/src/__tests__/fixtures/hir/timers.js
new file mode 100644
index 0000000000..eb226b89a8
--- /dev/null
+++ b/compiler/forget/src/__tests__/fixtures/hir/timers.js
@@ -0,0 +1,10 @@
+function Component(props) {
+  const start = performance.now();
+  const now = Date.now();
+  const time = performance.now() - start;
+  return (
+    <div>
+      rendering took {time} at {now}
+    </div>
+  );
+}
diff --git a/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.expect.md b/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.expect.md
new file mode 100644
index 0000000000..6ba63442e1
--- /dev/null
+++ b/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.expect.md
@@ -0,0 +1,23 @@
+
+## Input
+
+```javascript
+function Component(props) {
+  const ref = useRef(null);
+  ref.current = props.value;
+  return ref.current;
+}
+
+```
+
+## Code
+
+```javascript
+function Component(props) {
+  const ref = useRef(null);
+  ref.current = props.value;
+  return ref.current;
+}
+
+```
+      
\ No newline at end of file
diff --git a/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.js b/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.js
new file mode 100644
index 0000000000..97ce6931db
--- /dev/null
+++ b/compiler/forget/src/__tests__/fixtures/hir/useRef-mutable.js
@@ -0,0 +1,5 @@
+function Component(props) {
+  const ref = useRef(null);
+  ref.current = props.value;
+  return ref.current;
+}