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Wednesday, August 19, 2026 |
Mortgage Market Update
Does refinancing make sense right now?
Hi there. This week I want to touch on a question I hear often: should I refinance my mortgage?
National Mortgage Rates · August 13, 2026 |
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30-Year Fixed
6.67%
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FHA 30-Year
6.47%
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VA 30-Year
6.33%
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Source: Freddie Mac PMMS & Optimal Blue via FRED |
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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing sounds simple—replace your old loan with a new one—but the right timing depends on your situation. Some people refinance to lower their monthly payment or shorten their loan term. Others use it to tap equity for a home project or debt consolidation. The catch is that refinancing comes with costs, so it only pencils out if you'll stay in the home long enough to recoup them. That math is different for everyone. If you've been in your home for a while, your credit has improved since you first borrowed, or rates have shifted noticeably, it might be worth a conversation. I'm happy to walk through whether it makes sense for you.
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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 Andrew Karam - Edge Home Finance, LLC team any time and we'll walk you through your options.
Schedule a consultation →
8631 W Union Hills Dr Ste 201, Peoria, AZ 85382 ·
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