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Mortgage Market Update
My Mortgage Company
Luis Treto
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello,
This week I want to touch on something many homeowners overlook—and it could matter more than you realize.
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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 Building
Your home equity is probably higher than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. As you pay down principal and your home holds or gains value, that equity grows. Many homeowners don't realize how much they've built up, especially if it's been a few years since purchase. Knowing your equity matters because it can open doors: a cash-out refinance, a home equity line of credit, or simply peace of mind about your net worth. If you're curious where you stand, I can help you get a clear picture and explore what options might make sense for your situation. Let's talk about your 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
Luis Treto
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