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Mortgage Market Update
My Mortgage Company
Daryle Evans - For Deletion
Thursday, August 27, 2026
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What's your equity worth right now? |
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As we head into another week, I wanted to touch on something many homeowners overlook. Here's what you need to know:
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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 Awareness
Your home's equity is probably worth more than you think
If you've owned your home for a few years and made regular payments, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some borrowers use it to fund home improvements, pay off higher-interest debt, or cover major expenses without tapping into savings. The key is understanding what you have. A simple conversation about your home's current value and your loan balance can reveal options you may not have considered. If you're curious whether your equity could work for you, I'd be happy to walk through the numbers and talk about what might make sense for your situation. Let's have a quick conversation about your home's equity and what it could 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
Daryle Evans - For Deletion
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