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Mortgage Market Update
My Mortgage Company
The Andrew Russell Team
Thursday, August 27, 2026
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Do you know how much equity you have? |
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We help homeowners think clearly about their mortgages—not just today, but as their lives and finances evolve. This week, a look at something many of you have been building without even thinking about it.
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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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Equity Awareness
Your home is building wealth. Here's what to do with it.
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe on your mortgage. This is real wealth sitting in your property, and you have options for how to use it. Some homeowners tap into equity to fund home improvements, pay off higher-interest debt, or handle major expenses. Others prefer to leave it alone and let it grow. There's no one right answer, but it helps to know what's possible. If you're curious about your current equity position and what your options might look like, I'd be happy to walk through it with you. Reach out if you'd like to explore what your equity could do 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 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
The Andrew Russell Team
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