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Mortgage Market Update
Tania Pomeroy
Barrett Financial Group
Thursday, August 20, 2026
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Your equity could work harder for you |
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Hi there — I want to touch on something many homeowners overlook: the equity they've built can be a useful financial tool when the timing is right.
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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 Access
When tapping your home equity makes sense
If you've been a homeowner for a few years, you likely have equity built up — that's the difference between what your home is worth and what you owe on it. One smart way to use that equity is a cash-out refinance, where you refinance your mortgage for more than you owe and take the difference as cash. People use it for home improvements, debt consolidation, or major expenses. It's not right for everyone, but it's worth considering if rates or your situation have shifted since you bought. The key is making sure the numbers work in your favor — lower rates, better terms, or a clear plan for that cash can all tip the scale.
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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 Tania Pomeroy team any time and we'll walk you through your options. |
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2701 East Insight Way #150, Chandler, AZ 85286
+1 775-813-9676
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