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Mortgage Market Update
My Mortgage Company
Patricia Do Rosario
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hello — this week I'm thinking about one of the most overlooked assets homeowners have. It builds quietly over time, and it's worth understanding.
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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 is probably worth more than you think
If you bought a few years ago, you likely have equity in your home right now — the difference between what your home is worth and what you owe on your mortgage. Even if you bought recently, you're building equity with every payment you make. That equity can be useful later: you might tap it for a major expense, use it toward a down payment on another property, or simply watch it grow as you own your home longer. The tricky part is knowing what your home is actually worth today. Home values shift based on your neighborhood, market conditions, and recent sales nearby. If you're curious where you stand, I'd be happy to help you get a realistic picture of your equity position and talk through what options make sense for your situation. Let's chat about what your home equity could mean for your financial future.
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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
Patricia Do Rosario
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