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Mortgage Market Update
My Mortgage Company
Michael DeLeonardis
Thursday, August 27, 2026
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What's your home's equity worth? |
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Hi there. This week I want to help you see your home through a different lens—as a financial asset you've already started building wealth in.
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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
Do you know how much equity you have?
If you've owned your home for a few years, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. This matters more than you might think. Equity is real wealth you can tap into for major expenses, home improvements, or consolidating debt. The best part? You don't have to sell your home to access it. Whether through a home equity loan, line of credit, or refinance, understanding your equity position puts you in control. I'd encourage you to take a moment this week to think about your home's current value and your loan balance. If you're not sure where you stand, I'm happy to walk through it with you. Let's talk about your equity and what options might be available to 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
Michael DeLeonardis
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