Scott Swensen · August 27, 2026

Do you know how much equity you have?

Mortgage Market Update

My Mortgage Company

Scott Swensen

Thursday, August 27, 2026

Do you know how much equity you have?

Hi there. This week I want to help you understand something many homeowners overlook—the real value they've built in their home over time.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

Rate trend

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.


Equity Check-In

Your home's equity might be worth more than you think

If you bought your home a few years ago, or if your neighborhood has appreciated, you likely have built more equity than you realize. Equity is the difference between what your home is worth today and what you still owe on your mortgage. It matters because it gives you options—whether that's refinancing into better loan terms, accessing funds for home improvements or other needs, or simply knowing you're building real wealth with each payment.

The catch: you won't know your actual equity position without a realistic current home value. Market conditions, comparable sales in your area, and property condition all factor in. If you're curious where you stand, I'd love to help you get a clear picture and talk through what your equity could mean for your next move.

Reach out if you'd like to discuss your home's current value and what options it might open up for you.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Scott Swensen

You are receiving this from Scott Swensen.  Unsubscribe