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Mortgage Market Update
Jennifer Tewell
Jennifer Tewell
Thursday, August 20, 2026
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What you should know about home equity |
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Hi there. This week I'm breaking down something many homeowners overlook—and how it might help when unexpected expenses come up.
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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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Home Equity Basics
Your home's equity can be a financial tool
As you pay down your mortgage each month, you're building equity—that's the difference between what your home is worth and what you still owe. Many homeowners don't realize this equity can be tapped into when life happens: a major repair, education costs, or consolidating higher-interest debt. There are a few ways to access it, each with different terms and trade-offs. The key is understanding what makes sense for your situation before you need it. If you're curious about how much equity you might have or what your options could look like, I'd be happy to walk through the numbers with you. Reach out if you'd like to talk about your home's equity and what it could mean for your finances.
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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 Jennifer Tewell team any time and we'll walk you through your options. |
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