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Mortgage Market Update
My Mortgage Company
Golden Summit Mortgage Group
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Hey everyone—this week I want to talk about something many homeowners don't think about enough: the equity sitting in your home.
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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 working for you
If you've owned your home for a few years and have been making regular mortgage payments, you've likely built up equity—the difference between what your home is worth and what you still owe. This equity is real wealth, and it opens doors. Some borrowers use it to consolidate debt, fund home improvements, or cover life expenses through a refinance or home equity loan. Others hold it as a long-term financial foundation. The key is knowing what you have. We can help you understand your equity position and explore what options might make sense for your situation—whether that's doing nothing right now or taking action. Either way, it's worth a conversation. Curious what your equity picture looks like? Let's take a quick look together.
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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
Golden Summit Mortgage Group
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