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Mortgage Market Update
Cat Barnett
Cat Barnett
Wednesday, August 19, 2026
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Is paying extra on your mortgage worth it? |
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Hi there—I wanted to touch on something that comes up in conversations pretty often: what to do with extra money when you have it.
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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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Smart Money
Should you pay down your mortgage faster?
One question I hear often is whether it makes sense to put extra money toward the mortgage principal. The answer depends on your situation. If you have high-interest debt elsewhere, paying that down first usually makes more financial sense. But if your other debts are manageable and you have solid emergency savings, accelerating your mortgage payoff can save you years of payments and interest over time. The key is making sure extra payments are actually going toward principal—and that you're not stretching yourself too thin in the process. There's no one-size-fits-all answer, which is why it helps to talk through your specific goals and cash flow.
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Tip of the Week
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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1.
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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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 Cat Barnett team any time and we'll walk you through your options. |
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(720) 300-6777 | www.LoanFIT.us
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