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Mortgage Market Update
My Mortgage Company
Rico Singleton
Thursday, August 27, 2026
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How much equity do you have built up? |
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Hi there—I wanted to share something that often surprises homeowners who haven't checked in on their finances in a while. Your home may be working harder for you than you realize.
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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 equity might be worth more than you think
If you've owned your home for a few years, there's a good chance you've built up more equity than your initial down payment. Equity is the difference between what your home is worth today and what you still owe on your mortgage. Rising home values, regular mortgage payments, and any improvements you've made all contribute to building it. Many homeowners don't realize how much equity they have until they need it—whether that's for home repairs, education expenses, or consolidating debt. If you're curious about your position, I'd be happy to give you a realistic picture of what your equity might look like right now. It's a conversation worth having. Reach out if you'd like to talk through your equity and what it might mean for your options.
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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
Rico Singleton
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