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Mortgage Market Update
My Mortgage Company
Elizabeth Fisher
Thursday, August 27, 2026
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What's your home really worth to you? |
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Hi there,
This week I want to touch on something a lot of homeowners overlook: the real value sitting in their home.
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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 Check
Your home's equity might be worth more than you think
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you still owe. That equity can be a real financial tool. Some borrowers tap into it through a cash-out refinance or a home equity line of credit when they need funds for repairs, education, or consolidating debt. Even if you're not ready to use it now, it's worth understanding what you have. Your home isn't just a place to live; it's an asset you're building month by month. If you'd like to get a sense of your current equity position and explore what options might be available to you, I'd be happy to walk through the numbers. Reach out anytime—a quick conversation can show you what your equity means for your financial flexibility.
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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
Elizabeth Fisher
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