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Mortgage Market Update
Edgar Franco
Edgar Franco
Thursday, August 20, 2026
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How much equity are you building right now? |
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Hi there. This week I want to remind you of something that happens automatically every time you make a mortgage payment.
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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
Your home is working for you every month
One of the best parts of owning a home is that your mortgage payment does double duty. Part of what you pay goes toward interest, sure—but the rest goes straight toward building equity in your home. That's real ownership growing in your account, month after month. The longer you own, the more equity you accumulate. And here's the thing: if your situation changes down the road—whether you want to refinance, take out a home equity line, or sell—that equity becomes an asset you can actually use. It's one of the reasons homeownership beats renting for so many people. If you're curious about how much equity you may have built up, or what that might mean for your financial options, I'd love to walk through it with you. Let's talk about what your equity could do 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 Edgar Franco team any time and we'll walk you through your options. |
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