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Mortgage Market Update
My Mortgage Company
Brent Powell
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hello from the office this week. We're diving into a topic that matters more than most homeowners realize—and one that could genuinely improve your financial picture.
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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 Basics
Your home equity is probably bigger than you think
As a homeowner, you're building wealth every time you make a mortgage payment. That difference between what your home is worth and what you still owe is your equity, and it's one of the most valuable financial tools you have. Whether you're thinking about a large expense, considering a home improvement, or just curious about your options, understanding how much equity you've accumulated can open doors. If you've owned your home for a few years, you may have more to work with than you realize. I'd love to help you figure out exactly where you stand and what that means for your situation. Reach out anytime—a quick conversation about your home's value and what you owe takes just a few minutes.
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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
Brent Powell
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