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Mortgage Market Update
My Mortgage Company
Brad Powers
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Every mortgage payment and market shift changes your financial picture. This week, I'm walking you through something many homeowners overlook.
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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's equity is working for you
If you've owned your home for a few years, you likely have more equity than you realize. Equity builds two ways: as you pay down your mortgage each month, and as your home's value potentially increases. That equity can be a financial tool when you need it—whether for a major repair, education costs, or consolidating debt. The key is understanding what you have and thinking ahead about whether it makes sense for your situation. It's not something you need to act on right now, but it's worth knowing what options exist. I'd be happy to walk through your specific equity position and talk through whether any programs might fit your goals. Let's have a quick conversation about your home's equity and what it could mean 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
Brad Powers
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