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Mortgage Market Update
Jill Underwood
Your Mortgage Queen LLC
Thursday, August 20, 2026
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What to do with unexpected cash |
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Hi there—this week I want to talk about a decision many of my clients face when they have extra money on hand. It's easier to decide when you understand the tradeoffs.
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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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Smart Money
What to do when you have extra cash
If you've gotten a bonus, tax refund, or inheritance, you're facing a choice: invest it, save it, or put it toward your home. There's no universal right answer, but it's worth thinking through. Some people use extra funds to pay down their mortgage principal—which reduces interest paid over time and builds equity faster. Others prefer to keep that liquidity for emergencies or opportunities. The key is understanding how your mortgage works and what makes sense for your financial picture. I'm happy to walk through the math with you, whether that's showing how extra payments affect your loan or discussing whether refinancing makes sense alongside your payoff strategy.
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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 Jill Underwood team any time and we'll walk you through your options. |
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410 SE 3rd Street, Suite C-109, Lees Summit, MO 64063
(913) 915-0150 | yourmortgagequeen.net
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