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Mortgage Market Update
Christian Alvarez
Christian Alvarez
Thursday, August 20, 2026
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How much equity do you have? |
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Hi there. This week I want to remind you of something that happens quietly every single month while you're paying your mortgage—and why it's worth paying attention to.
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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
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth you can tap into when you need it. Whether you're planning a major home project, facing an unexpected expense, or thinking ahead to your next move, understanding your equity position matters. The longer you've owned your home and the more you've paid down, the more options you have available to you. If you're curious about how much equity you've built so far, I'd be happy to walk you through it with you. Let's talk about what your equity means for your next chapter.
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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 Christian Alvarez team any time and we'll walk you through your options. |
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