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Mortgage Market Update
My Mortgage Company
Kevin Francis
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Understanding your financial position as a homeowner is one of the smartest moves you can make. This week, let's talk about 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 Check
Your home equity is worth understanding
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe. It's real wealth sitting in your property. Understanding how much equity you have matters because it opens doors: you might refinance into better terms, tap that equity for major expenses, or use it as a down payment on another property. The key is knowing your starting point. I'd recommend getting a current estimate of your home's value and reviewing your loan balance. Once you know those two numbers, you'll have a clear picture of what you've built and what options might make sense for your situation. Let's talk through what equity could mean for your goals. Reach out if you'd like help calculating your equity and exploring what it could mean for your finances.
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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
Kevin Francis
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