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Mortgage Market Update
Chris Ristau
E3 Home Loans
Thursday, August 20, 2026
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Does refinancing actually pay off for you? |
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Hi there—this week I want to tackle a question I hear often: when should you actually refinance? It's not always obvious from the outside looking in.
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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 a refi makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates look attractive. The real math comes down to how long you plan to stay in your home, what you'll pay in closing costs, and how much your payment would actually drop. Some people break even in a few months; others never do. It's worth sitting down and running the numbers based on your specific situation—your current loan, the new rate environment, and your timeline. If you've been thinking about refinancing but weren't sure whether it pencils out, I'd be happy to walk through it with you. 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 Chris Ristau team any time and we'll walk you through your options. |
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