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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there, this week I want to touch on something a lot of homeowners overlook until they need it. Here's what you should know about home equity and why it matters.
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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 Questions
How much of your home do you actually own?
A lot of homeowners forget to think about equity until they need it. But understanding how much ownership you've built is important—whether you're considering a cash-out refinance, a home equity line of credit, or just curious about your financial position. Every mortgage payment you make builds equity. So does home appreciation in your market. The opposite is also true: if your home value drops, your equity shrinks. Knowing your equity helps you make smarter decisions about borrowing, selling, or staying put. If you're not sure where you stand, I can help you figure it out and talk through what your options might be. Let's have a conversation about what you own and what that means for your next move.
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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
Robie Chapa's Team
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