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Mortgage Market Update
My Mortgage Company
Tia Peeks
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about something many homeowners overlook until they need it: home equity.
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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 has likely built equity—here's why that matters
If you've been paying your mortgage for a few years, or if your home has appreciated, you've probably built equity without even thinking about it. That's the difference between what your home is worth and what you still owe on it. Many homeowners don't realize how valuable this is until they need it. Equity can be a financial tool—it opens doors to refinancing options, home improvement loans, or even cash-out refinances if life circumstances change. Understanding what you have is the first step to using it wisely. I'd love to help you figure out where you stand and what your options might look like. Let's talk about your home's 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
Tia Peeks
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