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Mortgage Market Update
Michael Barnhart
Michael Barnhart
Thursday, August 20, 2026
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Does refinancing pencil out for you? |
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Hi there. This week I want to touch on a question that comes up a lot: when is refinancing actually worth doing?
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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 actually makes sense
Not every rate drop is a reason to refinance. I talk to homeowners all the time who wonder if they should pull the trigger, and the honest answer depends on a few things: how long you plan to stay in your home, what your current rate and loan balance are, and the costs involved in refinancing. Sometimes a lower rate saves you money over time. Sometimes you'd pay more in fees than you'd recover. The right move is different for everyone, which is why I always recommend we sit down and run the numbers on your specific situation before you decide. Let's look at whether refinancing makes sense for you—reach out and we can talk through it.
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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 Michael Barnhart team any time and we'll walk you through your options. |
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