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Mortgage Market Update
My Mortgage Company
Celia White
Thursday, August 27, 2026
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Do you know how much equity you have? |
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There's a lot of confusion out there about home equity and what you can actually do with it. This week I want to clear that up.
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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 Questions
What your home equity can actually do for you
If you've been in your home a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. Depending on your situation, it can be a tool for major expenses, debt consolidation, or home improvements. The trick is understanding which options make sense for your goals and financial picture. There's no one-size-fits-all answer, which is exactly why it helps to talk through the possibilities. I'm happy to walk you through how much equity you have and what your options might look like. Let's talk about whether your equity could work for you right now.
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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
Celia White
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