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Mortgage Market Update
My Mortgage Company
Capital Mortgage Source - Salem
Thursday, August 27, 2026
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Your home may have built more equity than you realize |
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Hi there—this week I want to shine a light on something a lot of homeowners overlook: the equity they've already built. Here's why now is a good time to take stock.
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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 Awareness
Your home equity is probably worth more than you think
If you bought your home a few years ago, there's a good chance you've built up meaningful equity—even if you haven't paid down that much principal. Home values have shifted significantly in many markets, and that appreciation goes straight into your pocket as equity. The reason this matters is simple: equity is a financial tool you can tap into when you need it, whether for a major home repair, education, or consolidating debt at a better rate. The first step is understanding how much you actually have. I'd encourage you to take ten minutes this week to check your home's current value against what you owe. You might be surprised—and if you are, let's talk about what options that unlocks for you. Curious what your home is worth today? Reach out and we can run the numbers together.
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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
Capital Mortgage Source - Salem
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