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Mortgage Market Update
Patrick Culleton
Patrick Culleton
Thursday, August 20, 2026
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What's your equity actually worth to you? |
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Hello, I hope you're settling into the week. I wanted to touch on something that comes up often—and for good reason.
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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 Access
What you can do with home equity
If you've been a homeowner for a while, you likely have equity built up in your property. That's real money you own, and depending on your situation, it can be useful. Some borrowers tap into their equity for major home repairs, education costs, or consolidating debt. Others leave it alone and focus on building more. There's no one-size-fits-all answer, but understanding your options is the first step. The programs available to access equity—and when it makes sense to use them—depend on your unique circumstances. I'd like to walk you through what's realistic for your situation and what makes financial sense for your goals. Let's talk about whether accessing your equity makes sense right now.
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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 Patrick Culleton team any time and we'll walk you through your options. |
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