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Mortgage Market Update
My Mortgage Company
Gigi Prieto
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there, I hope you're having a great week. Today I want to talk about something that's quietly working in your favor while you own 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 Basics
Your home is building wealth—here's how to see it
Every mortgage payment you make builds equity in your home. That's the difference between what your house is worth and what you still owe on it. Over time, as you pay down your loan and your home appreciates, that equity grows into real financial cushion. Some borrowers don't realize they can tap into this equity for major expenses—whether that's home repairs, education, or consolidating debt—through options like a home equity line of credit or cash-out refinance. Understanding your equity position is the first step to making smart decisions with it. If you've been in your home for a few years or have watched values climb in your area, you may have more equity than you think. I'd be happy to run a quick equity check and walk you through your options—just let me know.
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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
Gigi Prieto
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