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Mortgage Market Update
Joseph R Garner
Joseph R Garner
Thursday, August 20, 2026
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How much equity have you built up? |
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Hi there—this week I want to remind you that homeownership is one of the most powerful wealth-building tools available. Here's why your equity matters.
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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 equity is working harder than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. But equity sits idle unless you know how to use it. Some borrowers tap equity through refinancing or a home equity line of credit when they need cash for repairs, education, or debt consolidation. Others simply watch it grow as a long-term asset. The key is understanding what you have and whether it makes sense for your situation. If you're curious about how much equity you've built or whether a move makes sense right now, I'd love to walk through the numbers with you. Let's talk about your equity and what it might mean for your goals.
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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 Joseph R Garner team any time and we'll walk you through your options. |
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