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Mortgage Market Update
Mike Edwards
Mike Edwards
Wednesday, August 19, 2026
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Do you know how much equity you have? |
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Hello—I'm sharing thoughts on money moves that matter to homeowners like you.
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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 Basics
Your home's equity is real money—here's why it matters
A lot of homeowners don't think much about equity until they need it. But the difference between what your home is worth and what you still owe on your mortgage is genuine financial leverage. As you make monthly payments, you're building equity. If your home's value rises, that builds equity too. Some of you may have more than you realize, especially if you've been paying down your loan for a few years or bought before prices shifted in your area. That equity can open doors—whether it's funding a major home repair, paying for education, or consolidating other debt. The first step is understanding what you have. I'd love to help you figure out your current equity position and what options might make sense for your situation. Reach out and I can give you a clear picture of where you stand.
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Tip of the Week
Inspect your attic insulation. Proper insulation reduces heating and cooling costs and can prevent ice dams on your roof.
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Tips for Homeowners
Fall Home Prep: Heating, Safety & Systems
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Have your heating system serviced before it's needed. A furnace failure in winter is an emergency — routine maintenance costs far less than emergency repairs.
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2.
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Test smoke detectors and carbon monoxide detectors and replace batteries. Carbon monoxide poisoning risk rises when heating systems run more frequently.
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3.
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Drain and shut off exterior faucets and sprinkler systems before the first freeze to prevent burst pipes — one of the most expensive and disruptive homeowner emergencies.
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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 Mike Edwards team any time and we'll walk you through your options. |
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