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Mortgage Market Update
My Mortgage Company
Joanne Hudson - Blank Account
Thursday, August 27, 2026
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How much equity do you have right now? |
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Hi there,
This week I'm focusing on something that grows quietly in the background of homeownership—and it's yours.
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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
Your home equity is your safety net
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. That's money sitting in your property that can work for you. Whether you're thinking about a future renovation, facing an unexpected expense, or planning ahead, understanding your equity matters. Some borrowers don't realize they can tap it through a home equity line of credit or loan when life happens. If you've been in your home for a few years, you may have more equity than you think. I'd love to sit down with you and talk about what you've built so far and whether it makes sense to have a plan in place. Let's have a conversation about your equity and what options might be available to 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
Joanne Hudson - Blank Account
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