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Mortgage Market Update
Scott McNeilly
Scott McNeilly
Thursday, August 20, 2026
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Do you know how much equity you have? |
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Hi there—this week we're talking about one of the best parts of homeownership: the equity you're quietly building with every 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 equity might be bigger than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. If your home has appreciated or you've paid down your loan, you may have more equity than you realize. That matters because equity can unlock options: a home equity line of credit for major expenses, the ability to refinance into better terms, or simply the peace of mind that comes with owning more of your home outright. The first step is understanding where you stand. I'd be happy to walk through your situation and show you what options might make sense. Let's talk about how much equity you've built—reach out anytime.
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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 Scott McNeilly team any time and we'll walk you through your options. |
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