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Mortgage Market Update
Mike Edwards
Mike Edwards
Thursday, August 20, 2026
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Do you know how much equity you have? |
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Hello—I'm sharing thoughts on money moves that matter to homeowners like you.
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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 Basics
Your home's equity is real money—here's why it matters
A lot of homeowners don't think much about equity until they need it. But the difference between what your home is worth and what you still owe on your mortgage is genuine financial leverage. As you make monthly payments, you're building equity. If your home's value rises, that builds equity too. Some of you may have more than you realize, especially if you've been paying down your loan for a few years or bought before prices shifted in your area. That equity can open doors—whether it's funding a major home repair, paying for education, or consolidating other debt. The first step is understanding what you have. I'd love to help you figure out your current equity position and what options might make sense for your situation. Reach out and I can give you a clear picture of where you stand.
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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 Mike Edwards team any time and we'll walk you through your options. |
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