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Mortgage Market Update
David Smith
David Smith
Thursday, August 20, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to talk about something a lot of homeowners overlook: what their home is actually worth today.
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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 may be worth more than you think
If you bought a few years ago or made significant improvements, your home's value has likely changed—often for the better. That difference between what you owe and what your home is worth is equity, and it's yours. Some people discover they have enough equity to refinance, take out a home equity loan, or even skip PMI if they're close to that threshold. The catch is you won't know unless you look. A quick appraisal or even a local market check can tell you where you stand. If you're curious about your equity position and what options might be available, I'd be happy to walk you through it. Reach out and we can discuss what your equity means for your financial picture.
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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 David Smith team any time and we'll walk you through your options. |
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