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Mortgage Market Update
Erik Olson
Erik Olson
Thursday, August 20, 2026
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Do you know how much equity you have? |
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Here's what I'm seeing this week and why it might matter for your finances.
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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 & Options
Your home's equity might be worth more than you think
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity can be useful if you need cash for a major expense, home repairs, or even to consolidate debt at a better rate. The way you access it matters, though. Some options tie up your monthly payment; others don't. The right choice depends on your timeline and how you plan to use the money. If you're curious about what your equity might be worth or how to use it smartly, I'd love to walk through the options with you. There's no obligation—just a conversation about what makes sense for your situation. Reach out if you'd like to talk about your home's equity and what it could mean 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 Erik Olson team any time and we'll walk you through your options. |
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