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Mortgage Market Update
My Mortgage Company
Cole Stephens
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Here's what's on my mind this week, and what might matter to you as a homeowner.
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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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Home Equity
Your home may be building equity faster than you think
If you've owned your home for a few years, there's a good chance you have more equity than you realize. Equity builds two ways: as you pay down your mortgage principal, and as your home's value increases. Many homeowners don't pay attention to this until they need it — but knowing what you have available can open doors. Whether you're thinking about a renovation, consolidating debt, or preparing for a future need, equity is a real financial resource sitting in your home. I'd recommend getting a sense of where you stand. If you'd like to talk through your options or get a rough estimate of your equity, I'm here to help you see the bigger picture. Reach out if you'd like to explore what your home equity could mean for your situation.
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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
Cole Stephens
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