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Mortgage Market Update
My Mortgage Company
Hector Lopez
Thursday, August 27, 2026
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What's your home equity worth right now? |
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Hi there. This week I want to touch on something homeowners often overlook but shouldn't.
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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
Do you know how much equity you have?
If you've owned your home for a few years, you may have built up more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage. As you make monthly payments, that number grows. Knowing your equity matters because it opens doors—you might qualify for a cash-out refinance, a home equity loan, or a home equity line of credit if you need funds for repairs, education, or other goals. Even if you're not planning to tap into it right now, understanding your equity is part of owning your home smartly. If you'd like to talk through what you might have built up and what options could make sense for you, I'm here to help. Let's take a look at your equity together—reach out whenever you're curious.
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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
Hector Lopez
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