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Mortgage Market Update
My Mortgage Company
Barrett Marketing
Thursday, August 27, 2026
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Do you know your home's equity? |
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Hello,
Each week I share something I'm seeing with borrowers—what's helping them, what's confusing them, or what they're taking advantage of. This week: equity.
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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 equity than you think
If you've owned your home for a few years, or if your neighborhood has appreciated, you likely have built equity—the difference between what your home is worth today and what you still owe. That equity can be useful. Some homeowners tap it for major expenses, home improvements, or to consolidate debt. Others refinance into better loan terms. The first step is understanding what you actually have. A home valuation gives you a real picture of where you stand, and from there we can talk through what options make sense for your situation. It costs nothing to explore, and the clarity alone is usually worth it. If you'd like to discuss your home's potential equity and what you might do with it, let's set up a quick conversation.
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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
Barrett Marketing
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