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Mortgage Market Update
My Mortgage Company
Gonzalo Lopez
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to circle back to a topic that comes up a lot in conversations with homeowners—but one many people overlook until they need it.
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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
Your home equity might be worth more than you think
If you've owned your home for a few years and made regular payments, you've likely built up equity—the difference between what your home is worth and what you still owe. Many homeowners don't realize how much equity they have, which means they miss opportunities to use it when they need it most. Whether you're facing a major expense, want to consolidate debt, or are thinking about a home improvement, understanding your equity position is a smart first step. If you'd like to know roughly where you stand, I'm happy to walk through the numbers with you—no obligation. Let's talk about what your equity might unlock 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
Gonzalo Lopez
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