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Mortgage Market Update
My Mortgage Company
The Prospering Home Loans Team
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 help you see your home in a new light—as an asset that's likely working harder for you than you realize.
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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 Awareness
Your home may be worth more than you think
If you bought a few years ago or have paid down your mortgage steadily, you likely have built equity in your home—the difference between what your home is worth today and what you still owe on it. Many homeowners don't realize how much equity they've accumulated, which means they're missing opportunities. That equity can be tapped for renovations, debt consolidation, education, or other major expenses through refinancing or a home equity line of credit. The first step is understanding what you actually have. I'd recommend getting a rough estimate of your home's current value and reviewing your mortgage statement to see how much principal you've paid off. Once you know your position, you can decide what makes sense for your goals. Let's talk about your equity and what options might be available to 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
The Prospering Home Loans Team
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