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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Thursday, August 27, 2026
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Could you have more equity than you realize? |
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Hi there, I hope this week finds you well. I wanted to touch on something that often surprises my clients in a good way.
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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 probably worth more than you think
If you've owned your home for a few years, there's a good chance you've built more equity than you realize. Every mortgage payment chips away at what you owe, and in most markets, home values have moved upward too. That combination means you may have real money sitting in your property—money you could tap into for renovations, debt payoff, or other goals. The tricky part is knowing what your home is actually worth and whether borrowing against that equity makes sense for your situation. That's where I come in. Let's talk about what you have and what options might be available to you. Reach out and we can run some numbers on your home's potential—no obligation.
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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
Stacey Elshehaby
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