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Mortgage Market Update
My Mortgage Company
Austen Smith
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Home equity isn't just something that happens passively. Let me walk you through why it matters and how to use it smartly.
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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 Building
Your home is working for you every month
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth you can tap into if you need it. Many homeowners don't realize how much equity they've accumulated, especially if they've been in their home for several years. Understanding your equity position matters because it opens doors: refinancing options, home equity lines of credit, or even the ability to put down a larger down payment on a second property. The sooner you know where you stand, the sooner you can think strategically about your next move. Let's pull your current equity picture and talk about what options make sense for your situation.
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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
Austen Smith
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