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Mortgage Market Update
James Brian McFarlane
James Brian McFarlane
Thursday, August 20, 2026
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Should you refinance? Here's how to tell. |
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Rates shift, life happens, and sometimes your current mortgage stops being the right fit. This week I want to help you figure out if now is the time to consider a new loan.
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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
Refinancing isn't one-size-fits-all, but there are a few clear reasons it might be worth exploring. A lower rate environment, a change in your financial situation, or the chance to shorten your loan term can all make refinancing pencil out. The key is weighing the costs—closing costs, appraisal, title work—against what you'd actually save over time. Sometimes the math works beautifully; sometimes you're better off staying put. That's why it's worth a conversation with someone who knows your loan inside and out. I can walk you through whether it makes sense for your specific situation, no pressure either way. Curious whether refinancing could work for you? Let's talk through the numbers.
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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 James Brian McFarlane team any time and we'll walk you through your options. |
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