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Mortgage Market Update
Anthony Patton
Anthony Patton
Thursday, August 20, 2026
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How much equity are you building each month? |
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Hi there—this week I want to remind you of something powerful that happens quietly in the background of homeownership. Your monthly payment is doing more than just paying down interest; it's building real wealth.
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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 owe. Over time, this becomes real wealth. The longer you own, the more equity you accumulate, and that opens doors: you can borrow against it for repairs or major expenses, use it toward a down payment on another property, or simply benefit from it when you sell. Market changes affect your home's value, but your payments? Those are locked in and steady. It's one of the smartest reasons homeownership beats renting. If you're curious about how much equity you've built so far, or whether tapping into it makes sense for your situation, I'd love to walk you through it. Let's talk about your equity and what it might mean for your financial 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 Anthony Patton team any time and we'll walk you through your options. |
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