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Mortgage Market Update
Sara Getchell
Sara Getchell
Thursday, August 27, 2026
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What's your home really worth now? |
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With home values shifting and mortgages being paid down, many homeowners have more equity than they realize. Here's what that means for you.
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National Mortgage Rates · August 27, 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 Check
Your home might be worth more than you think
If you bought your home a few years ago, or made significant payments toward your mortgage, there's a good chance you've built up equity. That's real wealth sitting in your property. Some homeowners don't realize they can tap into that equity for home repairs, debt consolidation, education, or other goals—without selling. A home equity loan or line of credit can be a smart financial tool if you need access to funds. The catch is timing: rates and lending conditions change, so what makes sense today might not make sense next month. If you've been wondering whether your equity could work for you, now's the time to find out what options are actually available to you. Let's talk about what your home equity could mean for your financial goals.
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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 Sara Getchell team any time and we'll walk you through your options. |
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