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Mortgage Market Update
My Mortgage Company
Trevor Flaten
Thursday, August 20, 2026
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How much equity have you built? |
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Hi there, I hope you're having a solid week. Today I want to talk about something that's quietly working in your favor.
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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 every month
One of the best parts of homeownership that often goes unnoticed is how your regular mortgage payment builds equity automatically. With each payment you make, a portion goes toward principal—meaning you're building ownership stake in your home, separate from any market appreciation. Over time, this adds up meaningfully. And if your home's value has moved since you bought, you may have even more equity than your payments alone created. Understanding what you've built is important, especially if you're thinking about refinancing, making a major purchase, or just wanting to know where you stand financially. I'd be happy to give you a clear picture of your equity position and what options that might open up. Let's take a look at what you've built—reach out anytime and we can walk through your equity and what it means for your next move.
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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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Your Mortgage Advisor
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My Mortgage Company
Trevor Flaten
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