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Mortgage Market Update
My Mortgage Company
Old- Sheila Garcia
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hey there. This week I want to focus on something many homeowners overlook—the real money they've already built into their homes.
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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
What your home equity can do for you
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. That equity can be a real financial tool. Some borrowers tap it for home improvements, debt consolidation, or major life expenses through a cash-out refinance or a home equity line of credit. Others simply keep building it as a forced savings plan. The key is understanding what you have and what makes sense for your situation. If you're curious about your options, I'd be happy to walk through the numbers with you. Let's talk about whether your equity could work harder 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
Old- Sheila Garcia
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