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Mortgage Market Update
Mayra Stewart
Mayra Stewart
Thursday, August 20, 2026
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Your home is building wealth—here's how |
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Hi there. I want to share something important about what happens behind the scenes with your mortgage—and why it matters to your long-term financial picture.
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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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Equity Building
How your home builds wealth over time
Every mortgage payment you make does two things: it pays interest to your lender, and it builds equity in your home. Equity is the difference between what your home is worth and what you still owe. As you pay down your loan balance, your ownership stake grows—and that's real wealth sitting in your property. Over time, as your home appreciates and your loan shrinks, equity can become a powerful financial tool. You might tap it for home improvements, education, or emergencies through a home equity line or loan. The longer you own and the more you pay down, the more options open up. I'd be happy to talk about where your equity stands today and what it might mean for your future. Reach out if you'd like to discuss your equity position or explore what it could mean for your goals.
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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 Mayra Stewart team any time and we'll walk you through your options. |
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