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Mortgage Market Update
My Mortgage Company
Dylan Crews
Thursday, August 27, 2026
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What's your home worth right now? |
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Hello! This week I'm focusing on something many homeowners overlook but can be genuinely valuable to understand.
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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 Check
Your home might be worth more than you think
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 today and what you still owe on your mortgage. Home values have shifted over time in most markets, and many homeowners don't realize how much equity they actually have sitting in their walls. Knowing your equity matters because it can open doors: you might refinance into a better loan term, tap into that equity for a major home project or other financial need, or simply understand your financial position more clearly. If you're curious where you stand, I'd be happy to help you get a realistic picture of your home's current value and what that means for your options going forward. Let me know if you'd like to talk through what your equity situation looks like today.
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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
Dylan Crews
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