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Mortgage Market Update
My Mortgage Company
Anthony Rice
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to remind you about an asset you may not be thinking about: the equity sitting in your home.
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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 equity is working whether you see it or not
If you've owned your home for a few years, you likely have equity built up—either through monthly payments that chip away at your loan balance, or appreciation in your home's value, or both. That equity is real money, and it opens doors. Some of you might use it to fund a renovation, pay down debt, or cover an unexpected expense. Others are just curious what it's worth. The first step is understanding what you actually have. I can help you figure out your equity position and talk through whether tapping into it makes sense for your situation. It's worth a conversation, especially if life circumstances have changed since you bought. Let's sit down and review your equity options—no obligation.
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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
Anthony Rice
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