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Mortgage Market Update
Torben Berndt
Torben Berndt
Thursday, August 20, 2026
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Does refinancing pay off in your case? |
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Some weeks we focus on the big picture. This week, I want to help you think through one of the most common questions I hear.
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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 look good. The real question isn't whether rates have dropped—it's whether refinancing will actually improve your situation. You'll want to weigh the closing costs and time it takes to break even against how long you plan to stay in your home. If you're thinking about selling or moving in a few years, refinancing might not pencil out. But if you're settled in for the long haul, the math might work strongly in your favor. The best way to know is to run the numbers with someone who understands your full picture. Let's talk through whether refinancing makes sense for your situation.
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Tip of the Week
If your credit score is below 740, even small improvements before applying for a mortgage can save you thousands over the life of the loan.
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Tips for Homeowners
Weatherproofing Your Home Before Winter
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1.
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Clean your chimney if you have a fireplace. The National Fire Protection Association recommends annual inspection and cleaning to prevent chimney fires.
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2.
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Check attic insulation and ventilation before winter. Inadequate insulation leads to heat loss, higher energy bills, and ice dams on the roof that can cause significant damage.
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3.
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Inspect weatherstripping on all exterior doors. A simple dollar-bill test works: close the door on a bill — if you can pull it out easily, your weatherstripping needs replacing.
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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 Torben Berndt team any time and we'll walk you through your options. |
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