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Mortgage Market Update
My Mortgage Company
Matt Denig
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to bring up something a lot of homeowners overlook—and it could open doors you didn't know you had.
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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
How much home equity do you actually have?
If you've owned your home for a few years, there's a good chance you've built up equity—the difference between what your home is worth and what you still owe on your mortgage. Many homeowners don't realize how much equity they've accumulated, which means they're missing opportunities. That equity can be tapped for home improvements, debt consolidation, education, or other major expenses through a home equity loan or line of credit. Even if you're not thinking about borrowing right now, it's worth knowing the number. I can help you get a rough estimate based on your home's current value and your loan balance. Understanding your equity puts you in control of your financial options. Let's talk about your equity and what it might mean for your goals.
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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
Matt Denig
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