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Mortgage Market Update
My Mortgage Company
Alexei Pepple
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there — this week I want to touch on something that often flies under the radar for homeowners. Here's what I mean:
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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's value might be working harder 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 and what you still owe on your mortgage. That equity is real money, and it can be a powerful financial tool when you need it. Whether you're facing unexpected expenses, planning a renovation, or thinking about consolidating debt, tapping into your home's equity through a loan or line of credit might be an option worth exploring. The key is understanding how much equity you actually have and what borrowing against it would really cost. I'd love to walk you through the numbers specific to your situation and show you what your options look like. Reach out this week and let's talk about what your equity could do 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
Alexei Pepple
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