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Mortgage Market Update
My Mortgage Company
Armond Ohan
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello,
This week, I want to talk about something that often flies under the radar: the equity sitting in your home right now.
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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 Building
Your home equity is working harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this becomes real money you can tap into if you need it, whether for home repairs, education, or other major expenses. Many homeowners don't realize how much equity they've accumulated, especially if they've been paying their mortgage for several years. It's worth knowing your number. If you'd like to talk through what your equity position looks like and what options might be available to you, I'm here to walk you through it. Sometimes a simple conversation unlocks possibilities you didn't know existed. Reach out if you'd like to discuss how much equity you've built and what you might do with it.
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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
Armond Ohan
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