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Mortgage Market Update
Emily Torvik
Emily J Torvik
Thursday, August 20, 2026
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Should you refinance right now? |
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Not every refinance is worth doing. This week I'm breaking down how to know if it makes sense for you.
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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 drop or your home appreciates. The real question is whether the change improves your financial picture over time. Sometimes a lower rate saves you money; sometimes closing costs and a longer timeline eat those gains. And if you've already paid down a significant chunk of your loan, starting over on a new 30-year term might cost you more interest overall, not less. The best refinance decisions come from comparing your actual numbers—your current rate, remaining balance, how long you plan to stay, and what new terms you qualify for. I can help you run that math and figure out whether it pencils out for your situation. Let's talk through your numbers and see if refinancing works for you.
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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 Emily Torvik team any time and we'll walk you through your options. |
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