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Mortgage Market Update
My Mortgage Company
Errol Fenty — Errol Fenty
Thursday, August 20, 2026
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What's actually in your mortgage payment? |
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Hi there. With rates shifting week to week, it's easy to lose sight of the fundamentals. This week I want to refocus on something that matters more than you might think.
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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 Habits
Why your mortgage payment matters more than the rate
When rates move, your first instinct is to check what you're paying in interest. That's natural—but here's what I often see borrowers overlook: the actual monthly payment is what hits your budget every month. A lower rate helps, sure, but understanding your full payment—principal, interest, taxes, insurance—tells you whether you can comfortably afford your home long-term. I've worked with plenty of people who got caught up chasing rates and missed the bigger picture. Before you make a move, sit down and run the real numbers on what you'd owe each month. That clarity is worth more than any rate alert. Let's talk through your numbers and make sure your mortgage works for your life.
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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
Errol Fenty — Errol Fenty
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