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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Each mortgage payment you make builds your wealth. This week, let's look at one of the most powerful tools homeowners overlook.
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National Mortgage Rates · August 20, 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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Home Equity
Your home's value may be working for you
If you've owned your home for a few years, there's a good chance you've built equity—the difference between what your home is worth and what you owe on your mortgage. That equity is real financial value sitting in your property, and depending on your situation, you may be able to tap into it. Some borrowers use home equity to fund renovations, pay off debt, or cover major expenses. Others refinance into a new loan that works better for their timeline. The key is understanding what options make sense for you and your goals. If you're curious whether your equity could help you, I'd love to walk through the possibilities. Let's talk about what your home equity might mean for your next move.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Nick Mastropietro
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