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Mortgage Market Update
My Mortgage Company
Michael Rodriguez
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there, I hope you're staying warm this week. Here's something worth thinking about when you have a few quiet minutes at home.
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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 might be worth more than you think
If you've owned your home for a few years, or if your neighborhood has appreciated, you may have built more equity than you realize. Equity is the difference between what your home is worth and what you owe on your mortgage—and it's one of your most valuable financial assets. Knowing your equity matters because it can open doors: refinancing options, home equity lines of credit, or the ability to make a larger down payment on a second property. The first step is getting an honest picture of where you stand. I'd be happy to help you understand your equity position and explore what options might make sense for your situation. Let's talk about what your home equity could mean for your future.
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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
Michael Rodriguez
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