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Mortgage Market Update
My Mortgage Company
Arizona Filmmakers
Thursday, August 27, 2026
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How much equity do you have built up? |
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Hello—this week I want to talk about something many homeowners overlook: the equity sitting in their house. Here's what you should know.
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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
Your home equity might be worth more than you think
If you bought a few years ago or have been paying down your mortgage, you've likely built equity in your home—and you may not realize how much. Equity is the difference between what your home is worth today and what you still owe on it. That equity can be useful if you ever need cash for home repairs, education, or other big expenses. The challenge is figuring out what your home is actually worth right now. If you're curious where you stand, I'm happy to discuss your options and what that equity could mean for your situation. It's one of those conversations that often surprises people in a good way. Reach out if you'd like to explore how much equity you might have and what options could work 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
Arizona Filmmakers
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