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Mortgage Market Update
Pia Harriman
Pia Harriman
Thursday, August 20, 2026
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Do you know how much equity you have? |
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I work with homeowners who sometimes don't realize how much financial flexibility they've built into their homes. This week, I want to help you understand yours.
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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 equity might be doing more for you than you think
If you've owned your home for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe. This equity can be a powerful financial tool. Some homeowners use it to fund renovations, pay down higher-interest debt, or cover unexpected expenses through a home equity line of credit or cash-out refinance. The key is understanding how much equity you actually have and whether tapping into it makes sense for your situation. Every homeowner's circumstances are different, and the right move depends on your goals, timeline, and comfort level. I'd be happy to walk you through your options and help you figure out if your equity can work harder for you. Let's talk about what your equity could mean 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 Pia Harriman team any time and we'll walk you through your options. |
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