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Mortgage Market Update
Tim Stacey
Tim Stacey
Wednesday, August 19, 2026
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Where your mortgage payment actually goes |
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Hi there — this week I'm sharing something that surprises a lot of homeowners when we talk through it.
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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
What your mortgage payment really covers
I've noticed a lot of borrowers are surprised when I break down where their monthly payment actually goes. Most of it typically covers interest and principal, but you're also paying into escrow for taxes and insurance. Understanding this split matters because it shows you how equity builds over time — and it helps you spot opportunities to accelerate that growth. When you know what you're paying for, you can make smarter decisions about extra payments, refinancing, or when to tap your equity. It's not complicated, but it's worth understanding. If you'd like me to walk through your statement and show you exactly where your payment goes, I'm happy to do that.
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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 Tim Stacey team any time and we'll walk you through your options. |
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