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Mortgage Market Update
My Mortgage Company
Jeffrey Diaz
Thursday, August 27, 2026
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Do you know how much equity you've built? |
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Welcome back. This week we're looking at a powerful financial tool that many homeowners overlook.
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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 might be worth more than you think
If you've owned your home for a few years and made consistent payments, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. This equity can work for you in several ways. Some borrowers use it to fund home improvements, pay off debt, or cover major life expenses through a home equity line of credit or cash-out refinance. Even if you're not planning to tap into it today, knowing your equity position helps you understand your overall financial health and opens doors down the road. The tricky part is getting an honest picture of what your home is actually worth. I'd recommend having a conversation about your current situation—we can discuss whether tapping your equity makes sense for your goals, and what your options look like. Let's talk about what your equity means for your next move.
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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
Jeffrey Diaz
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