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Mortgage Market Update
Jim Hoggan
Jim Hoggan
Thursday, August 20, 2026
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How much home equity do you actually have? |
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This week I want to talk about something that builds quietly in the background of homeownership but can make a real difference in your financial life. Let me explain.
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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 Awareness
Your home is building wealth—here's why it matters
Every mortgage payment you make builds equity in your home. That's the difference between what your house is worth and what you still owe on it. Over time, as you pay down your loan and your home appreciates, that equity grows—and it can become a valuable financial tool when you need it. Whether you're thinking about a major home project, consolidating debt, or handling an unexpected expense, understanding your equity position helps you make smarter decisions. If you've been in your home for a few years, you might be surprised by how much equity you've built up. I'd love to walk you through where you stand and talk about whether tapping that equity makes sense for your situation. Reach out anytime—I can give you a quick picture of your equity and what it might 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 Jim Hoggan team any time and we'll walk you through your options. |
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