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Mortgage Market Update
My Mortgage Company
Garrison Groeschke
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Welcome back. This week, I want to help you think about an asset you may already own but haven't fully considered.
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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 Awareness
You might have more home equity than you think
If you've owned your home for a few years and made regular payments, there's a good chance you've built up equity—that's the difference between what your home is worth today and what you still owe on the mortgage. Many homeowners don't realize how much equity they have until they need it. That equity can open doors: it might help you refinance into better terms, fund a renovation, or tap into it through a home equity line of credit when life happens. The first step is understanding what you have. I'd encourage you to get your home's current value assessed and review your loan balance. Once you know those numbers, you'll have a clearer picture of your financial flexibility and what options might be available to you. Let's talk about your home's current value and what equity could mean for your situation.
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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
Garrison Groeschke
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