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Mortgage Market Update
My Mortgage Company
Trevor Rockett
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 remind you about something many homeowners overlook: the equity they're building with every mortgage payment.
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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 equity is working for you
As you pay down your mortgage, you're building equity—the difference between what your home is worth and what you still owe. That equity can be a financial tool when you need it. Some homeowners tap into it for major expenses like renovations, education, or debt consolidation through a home equity line of credit or loan. The key is understanding how much equity you have and whether borrowing against it makes sense for your situation. If you're not sure what your home is worth today or how much equity you've built, I can help you figure that out. It's one of those numbers worth knowing. Curious about your equity? Let's talk through your options.
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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
Trevor Rockett
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