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Mortgage Market Update
My Mortgage Company
Patrick Brown
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 touch on something that often gets overlooked: the equity you've built in your home. It's worth understanding.
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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
You might have more home equity than you think
If you've owned your home for a few years and paid down your mortgage, you likely have built equity—the difference between what your home is worth and what you still owe. This matters more than you might realize. Equity can open doors: it's the foundation for a cash-out refinance if you need funds for home repairs, education, or other goals. It's also what protects you if the market dips. The tricky part is that many homeowners don't actually know how much equity they have. Home values shift, and it's easy to lose track. A quick conversation about your home's current value and your loan balance can give you a clear picture of where you stand. Knowing your equity helps you plan smarter—whether that's refinancing, renovating, or just understanding your financial position. If you'd like to talk through your equity position, I'd be happy to help you get the numbers.
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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
Patrick Brown
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