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Mortgage Market Update
My Mortgage Company
Paul Isaacson
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Home ownership is one of the best wealth-building tools available. This week, I want to talk about the money you might already have sitting in your home.
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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 might be worth more than you think
If you've owned your home for a few years and made regular payments, you've likely built equity—the difference between what your home is worth and what you still owe. That equity is real money, and it can work for you in more ways than one. Some borrowers tap into it for home improvements, debt consolidation, or major life expenses through a home equity line of credit or cash-out refinance. Others simply let it grow as they pay down their mortgage. Either way, it's worth knowing what you have. A quick conversation about your home's current value and your loan balance can show you options you might not have considered. Let's talk about how much equity you've built and whether it makes sense to use it.
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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
Paul Isaacson
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