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Mortgage Market Update
Eric Neal
Eric Neal
Thursday, August 20, 2026
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How much equity do you have right now? |
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Hi there—this week I want to touch on something that often gets overlooked. Your home is building wealth for you automatically, and you may not realize how much.
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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 Check
Your home's equity is probably worth more than you think
If you bought or refinanced a few years ago, your home has likely appreciated since then. That means you've built equity—the difference between what your home is worth today and what you still owe on your mortgage. Equity matters because it's real wealth you can tap into if you need to. Some homeowners use it to fund renovations, pay off debt, or cover major expenses through a cash-out refinance or a home equity line of credit. Even if you're not planning to borrow against it, knowing your equity gives you a clearer picture of your financial position. It's worth a conversation to see what your home's current value might be and what options could be available to you. Let's talk about your home's equity and what it might mean for your financial 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 Eric Neal team any time and we'll walk you through your options. |
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