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Mortgage Market Update
Gaston Garrido
Gaston Garrido
Tuesday, September 1, 2026
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How much equity are you sitting on? |
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Hey there. This week I want to bring up something a lot of homeowners don't think about until they need it—the equity they've already built.
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National Mortgage Rates · August 27, 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 Awareness
Do you know how much equity you've built?
If you've been paying down your mortgage for a few years, you likely have more equity in your home than you realize. Equity is the difference between what your home is worth and what you still owe on it—and it can open doors. Some borrowers use it to fund renovations, consolidate debt, or tap into it when life happens. The best part? You don't have to do anything with it right now. But knowing the number gives you options. A quick conversation can help you understand exactly where you stand and what might make sense for your situation down the road. Let's talk about your equity and what it could mean for you.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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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 Gaston Garrido team any time and we'll walk you through your options. |
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