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Mortgage Market Update
My Mortgage Company
TEAM MEDINA LLC
Thursday, August 27, 2026
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Do you know how much home equity you've built? |
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Hi there. This week I want to talk about something many homeowners overlook—and how it might open up new opportunities for you.
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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 equity is probably bigger than you think
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. Over time, that grows. If your home has appreciated or you've paid down your loan for a few years, you may have built up more equity than you realize. That equity can be useful. Some people tap into it for home improvements, to consolidate debt, or to cover life expenses. Others simply watch it grow as part of their long-term wealth. The key is knowing what you have. If it's been a while since you checked your home's value or your loan balance, now might be a good time to take stock. I'd be happy to walk through your situation and explain your options. Let's talk about what your equity means for your financial picture.
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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
TEAM MEDINA LLC
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