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Mortgage Market Update
My Mortgage Company
Elizabeth Gibson
Thursday, August 27, 2026
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What's your home really worth to you? |
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Hi there—this week I want to talk about something many homeowners overlook. Your equity is real money with real possibilities.
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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 equity might be worth more than you think
If you've owned your home for a few years, you've likely built equity through your monthly payments and any appreciation in your area. That equity can be a powerful financial tool—whether you're planning a major home project, consolidating debt, or thinking about your next move. Understanding what you have to work with is the first step. Some borrowers are surprised to learn how much flexibility their equity gives them. If you're curious about your options, I can help you figure out what that number actually means for your situation and what it might unlock for you. Reach out if you'd like to discuss what your home 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
Elizabeth Gibson
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