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Mortgage Market Update
My Mortgage Company
Anna Lim Real Estate
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hey there. This week I want to walk you through something that homeowners don't always think about until they need it—but it's worth understanding now.
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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 has likely built more equity than you think
If you bought a few years ago or made extra payments on your mortgage, you probably have more equity in your home than you realize. That equity is real money—it's the difference between what your home is worth today and what you still owe. Knowing your equity matters because it opens doors: you might refinance into better loan terms, tap that equity for a home improvement or major expense, or simply feel more confident about your financial position. The best part is that building equity happens automatically as you pay down your loan, and it accelerates if your home's value has gone up. I'd encourage you to reach out—we can run a quick analysis to show you exactly where you stand and what options might make sense for your situation. Let's talk about your equity and what it could mean 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
Anna Lim Real Estate
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