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Mortgage Market Update
My Mortgage Company
Carlos Scarpero
Thursday, August 20, 2026
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How much equity are you building? |
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Hello—I hope you're enjoying your home. This week I want to talk about something that happens quietly in the background of homeownership, but adds up to real money.
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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 is working for you—here's how
Every mortgage payment you make builds equity in your home. As you pay down principal, you're building real wealth—money that belongs to you, not your lender. Over time, as your home's value may appreciate, that equity grows even faster. This matters because equity is your financial cushion. It can help you refinance into better terms, fund major repairs or upgrades, or tap into it for other life goals if you ever need to. The longer you own your home, the stronger this position becomes. If you'd like to understand how much equity you've built or explore what options that creates for you, I'd be happy to walk through it. Reach out anytime—I can show you where you stand and what your equity means for your financial future.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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