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Mortgage Market Update
My Mortgage Company
Peter Alongi
Thursday, August 27, 2026
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What's your home equity worth? |
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Hello, and welcome to this week's mortgage update. Today I'm walking you through one of the most powerful financial tools homeowners have at their disposal.
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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's built-in savings account
If you've been paying your mortgage for a few years, you likely have equity—the difference between what your home is worth and what you owe on it. That equity is real wealth sitting in your property, and it can work for you in several ways. Some borrowers tap into it through a refinance, a home equity loan, or a line of credit when they need cash for repairs, education, or other big expenses. Others simply let it grow as part of their long-term financial plan. The key is knowing what you have and understanding your options when life happens. I'd be happy to walk you through what equity means for your specific situation and whether any of these tools might make sense for you. If you're curious about your home's equity and what you could do with it, let's talk.
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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
Peter Alongi
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