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Mortgage Market Update
My Mortgage Company
Crafted Home Loans
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 goes overlooked—but shouldn't.
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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 Basics
Why your home's equity matters more than you think
If you've owned your home for a while, you likely have equity—the difference between what your home is worth and what you still owe on your mortgage. Many homeowners don't realize how useful that equity can be. Whether you're facing an unexpected expense, planning a renovation, or thinking about your financial future, understanding your equity gives you options. You might refinance to access it, take out a home equity line of credit, or simply know it's there as a safety net. The first step is getting a clear picture of where you stand. If you're curious about your home's current value or want to talk through how to make your equity work for you, I'd be happy to walk through the numbers. Let's take a few minutes to review your equity and explore what options might make sense for your situation.
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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
Crafted Home Loans
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