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Mortgage Market Update
Ken Graczak
Ken Graczak
Thursday, August 20, 2026
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Is it time to refinance your mortgage? |
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A Note From Ken Graczak
Rates move. Sometimes in your favor, sometimes not. Either way, I'm watching them so you don't have to. If you've got a question about whether now's the time to buy, refinance, or just check your equity, reach out. I'll run the numbers and give you a straight answer.
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Sometimes the best financial move is knowing when not to make one. This week I want to talk about refinancing — what it is, when it can help, and when it's probably not worth the effort.
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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 or your situation changes. The real question is whether the long-term benefit outweighs the upfront costs and time involved. Sometimes staying put is smarter than starting over. I've seen borrowers save thousands by refinancing, and I've also seen others spend money they didn't need to spend. The difference usually comes down to honest math: How long do you plan to stay in the home? What are your new costs compared to your old payment? What's your goal — lower monthly payment, shorter loan term, or cash out? If you're wondering whether a refinance could work for you, I'd like to walk through your numbers. Let's figure out what actually makes sense.
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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 Ken Graczak team any time and we'll walk you through your options. |
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8120 Penn Ave S. Suite 100C, Bloomington, MN 55431
612-324-8454 | https://kengraczak.com
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