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Mortgage Market Update
My Mortgage Company
Roy Paeth
Thursday, August 27, 2026
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Do you know how much equity you have? |
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Hi there — this week I want to talk about something many homeowners overlook: the equity they've already built. It might surprise you what that number is.
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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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Home Equity
Your home's value might be working harder than you think
If you've been a homeowner for a few years, you likely have built up equity—the difference between what your home is worth and what you still owe on it. That equity can be a powerful financial tool. Some borrowers use it to fund home improvements, cover education costs, or consolidate debt. Others tap it strategically when life circumstances change. The key is understanding what you have available and whether accessing it makes sense for your situation right now. If you're curious about your home's current value or how much equity you may have built, I'd love to walk through it with you. Let's talk about your home's 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
Roy Paeth
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