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Mortgage Market Update
My Mortgage Company
FullyScale Sandbox
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello from the lending desk. This week I'm thinking about the homeowners sitting on equity they've never tapped.
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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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Home Equity
Your home may be worth more than you think
If you've owned your home for a few years, or if your neighborhood has seen property values climb, you likely have equity you may not be using. Equity is the difference between what your home is worth today and what you still owe on your mortgage. It's real money, and it can be tapped for renovations, debt consolidation, education, or other life goals. The simplest way to find out how much equity you have is to get your home valued—either through a quick online estimate or a professional appraisal. Then subtract your current loan balance. If you're curious about your options, I'd love to walk you through what's available and whether it makes sense for your situation. Let's talk about your home's current value and what equity might 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
FullyScale Sandbox
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