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Mortgage Market Update
My Mortgage Company
Home Smart - Surpise
Thursday, August 27, 2026
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Do you know how much home equity you have? |
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Hi there. This week I want to talk about something a lot of homeowners overlook—and it could matter to your finances.
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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 Talk
Your home equity could be working harder for you
If you've been in your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. A lot of people don't realize this is a real financial resource they can tap into when life happens. Whether you need to cover a major repair, consolidate debt, or fund a project, a home equity loan or line of credit lets you borrow against that equity, often at better terms than other loans. The tricky part is making sure it makes sense for your situation. I'd love to walk you through what you might have available and whether it's the right move. Let's talk about your equity—reach out and we can explore your options.
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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
Home Smart - Surpise
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