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Mortgage Market Update
My Mortgage Company
Scott Obermeyer
Thursday, August 27, 2026
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What's your home worth today? |
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Hi there. We focus a lot on rates and monthly payments, but there's another side of homeownership worth paying attention to: the wealth you're building.
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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, you likely have equity built up—the difference between what your home is worth today and what you still owe on your mortgage. That equity is real money, and it can work for you in several ways. Some homeowners use it to fund renovations, pay off higher-interest debt, or handle unexpected expenses through a home equity loan or line of credit. Others refinance into a better loan term or rate. The first step is knowing roughly what your home is worth and how much equity you have. If you're curious about your position, I'd be happy to walk through it with you—no pressure, just clarity. Reach out if you'd like a quick conversation about what your home equity means for your situation.
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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
Scott Obermeyer
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