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Mortgage Market Update
My Mortgage Company
Elias Espejo
Thursday, August 27, 2026
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You might have more options than you think |
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Life changes, financial goals shift, and sometimes an opportunity shows up when you least expect it. This week, I want to talk about something many homeowners overlook—the real value sitting in their 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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Home Equity
Your home has been working for you
If you've been paying your mortgage for a few years, or your home has appreciated in value, you likely have built equity—that's the difference between what your home is worth and what you still owe on it. That equity is yours, and it can be a powerful financial tool. Some homeowners use it to fund a major repair, pay for education, or consolidate debt at a lower rate. Others tap into it to invest in a rental property or start a business. The right move depends entirely on your goals and situation. Before you make any decision, it's worth understanding what options are available to you and what makes sense for your circumstances. If you're curious about how much equity you might have and what you could do with it, I'd love to walk through the possibilities with 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
Elias Espejo
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