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Mortgage Market Update
My Mortgage Company
Adam Lewis
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Building a home means building wealth over time. This week, we're looking at one of the most underused financial tools homeowners have: their equity.
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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 built you wealth. Here's how to use it.
If you've been in your home for a few years and made payments, you likely have equity—the difference between what your home is worth and what you owe. That equity is real money sitting in your walls, and it can be a powerful financial tool when you need it. Whether you're facing a major repair, consolidating debt, or funding a life goal, a home equity line or loan lets you borrow against that equity at rates that are often better than credit cards or personal loans. The trick is borrowing thoughtfully—only what you need, with a payoff plan in mind. I'd love to help you understand how much equity you may have built and whether tapping into it makes sense for your situation. Let's talk about what your home equity could do for you.
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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
Adam Lewis
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