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Mortgage Market Update
My Mortgage Company
Barrett Financial Group - Marco Guzman
Thursday, August 27, 2026
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Do you know how much equity you have? |
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This week I want to talk about something that grows quietly in the background of homeownership: equity. It's one of the most valuable assets you'll build, and 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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Home Equity Basics
Your home is building wealth—here's how to use it
Every mortgage payment you make builds equity in your home. That's the difference between what your house is worth and what you still owe. Over time, that number grows, and it can become a powerful financial tool. If you've owned your home for a few years, you may have accumulated more equity than you realize. Some homeowners tap into that equity for major expenses—a renovation, education, or paying off higher-interest debt. Others refinance to lock in better terms or change their loan structure. The first step is understanding what you have. I can help you figure out your current equity position and explore options that make sense for your situation. Let's take a look at your home's equity and what it might mean for you.
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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 Financial Group - Marco Guzman
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